“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 discrimination in mostly Black neighborhoods.
On 七月 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. Nearly a century after the redlining practices of the 1930s, investigations are still finding that lenders are participating in redlining practices and perpetuating discrimination. Fair housing organizations are working with state and federal agencies to stop redlining and open doors to housing opportunities for everyone.
The four-year investigation revealed that Trident intentionally avoided providing lending services to majority-minority neighborhoods from 2015-2019 in Philadelphia, Camden, and Wilmington. Trident offices were located strictly in majority White neighborhoods, restricting access to credit and loan services to residents of color. Trident loan officers and employees would also refer to communities of color as “ghetto” and use racial slurs in emails. Trident’s discriminatory redlining practices perpetuate a legacy of intentional disinvestment out of communities of color and restrict access to resources leveraged for economic mobility. To begin to address the damage to communities, Trident will invest over 20 million dollars in subsidies, partnerships, and outreach to the Philadelphia metropolitan area.
The Housing Equality Center of Pennsylvania collaborated with the Pennsylvania Attorney General’s office to lead the testing investigations in Philadelphia because our organization is committed to the advancement of fair and equal housing opportunities for all Pennsylvanians. The Department of Justice has also reaffirmed its commitment in a statement from attorney General Merrick B. Garland saying, “we are increasing our coordination with federal financial regulatory agencies and state Attorneys General to combat the modern-day redlining that has unlawfully plagued communities of color”. The unfortunate reality is that discrimination in housing persists and has a significant impact on the resources marginalized communities can access. The Housing Equality Center is committed to investigating incidents of discrimination and supporting the community in enforcing their fair housing rights.
If you feel you have experienced housing discrimination and live in Bucks, Chester, Leigh, Northampton, Delaware, Montgomery or Philadelphia counties you can call 866-540-FAIR.
