Providence has dropped its lawsuit against the bank Santander. The suit filed back in May claimed the bank deliberately limited lending in minority neighborhoods while expanding lending in white ones.
At the time, lawyers called the bank’s lending practices a civil rights issue. Less than six months later, they settled. Santander will make $1.3 million in grants going to the Providence Community Library, arts organization AS220, and a non-profit that will help low-income residents secure a mortgage.