First Merchants settles with Justice Department over mortgage practices

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WASHINGTON, DC – The Department of Justice and the U.S. Attorney’s Office for the Southern District of Indiana today filed a complaint and settlement agreement, resolving allegations that First Merchants Bank engaged in lending discrimination by "redlining" predominantly African-American neighborhoods within Indianapolis, Indiana.

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First Merchants settles with Justice Department over mortgage practices The Indiana company, which has an acquisition pending, will make more loans in minority neighborhoods around Indianapolis. Community banking Ken McCarthy June 13.

First Merchants Bank is the largest financial services holding company in Central Indiana, commercial banking, credit card services, mortgage, trust services Home Loans | First Merchants Bank Search

First Merchants (FRME +0.6%) reports a settlement agreement with the U.S. Department of Justice that all claims by the DOJ and finalizes an investigation that began in June 2017 focused on bank.

First Merchants Corp., the Muncie, Ind.-based holding company for First Merchants Bank, has reached a settlement agreement with the U.S. Department of Justice (DOJ) related to charges of lending practices that ran afoul of the Equal Credit Opportunity Act and the Fair Housing Act.

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Last month, the United States Department of Justice ("DOJ" or the "Department") settled redlining claims against First Merchants Bank ("First Merchants" or the "Bank"), an indiana-based bank regulated by the Federal Deposit Insurance Corporation ("FDIC"). The First Merchants settlement is the first redlining matter initiated 1 and settled under the Trump administration, and.

First Merchants settles with Justice Department over mortgage practices – First Merchants agreed to invest more than $1 million over four years in a loan subsidy fund that will offer improved access to mortgages and home improvement loans to residents in majority black.