August 2022 - Housing Equality Center

Fair Housing News – August 2022

August 26, 2022

On July 27, 2022, the Department of Justice, the Consumer Financial Protection Bureau, and the Attorneys General of Pennsylvania, New Jersey, and Delaware announced a resolution after a years-long investigation into redlining practices by Trident Bank. Under the consent order Trident has agreed to invest over $20 million to increase credit opportunities in neighborhoods of color in the Philadelphia metropolitan area. HECP collaborated with the Pennsylvania Attorney General’s office to conduct testing to support their investigations in Philadelphia.

DOJ, CFPB, and PA, NJ, and DE Attorneys General Settle Redlining Case Against Trident Mortgage

August 11, 2022

“Trident’s unlawful redlining activity denied communities of color equal access to residential mortgages, stripped them of the opportunity to build wealth, and devalued properties in their neighborhoods” -Attorney General Kristen Clarke Established by the Federal Housing Administration and the Home Owner’s Loan Corporation in the 1930s, the discriminatory practice of redlining labeled communities of color as too risky to invest in through federal loan programs. It was nearly impossible for individuals living in neighborhoods that were not homogenously White to receive federally insured loans. Redlining kept Black residents from accessing the capital to make necessary changes to their homes and encouraged