OneWest Bank has agreed to a more than $7 million settlement over allegations of discriminatory lending that cover the period when Treasury Secretary Steven Mnuchin was chairman
Washington .
The Department of Housing and Urban Development said Monday that it would approve the settlement between OneWest and the California Reinvestment Coalition, which had accused the bank of"redlining," or denying credit to residents of predominantly minority neighborhoods, between 2014 and parts of 2017.Fair lending laws prohibit financial institutions from discriminating on the basis of race or national origin when it comes to their mortgage lending services.
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