| The Peoples
Bank Dismissive on Lending Disparities
& to Avenatti Inner City Press Raises
By Matthew
Russell Lee, Patreon Maxwell
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SOUTH BRONX /
SDNY, May 7 –
Based in Biloxi, Mississippi
The Peoples Bank made loans to
now convicted Michael
Avenatti, while
disproportionately NOT lending
to African Americans in their
community. Fair Finance Watch,
with Inner City Press on the
FOIA, challenged its
application to the FDIC to
acquire trust assets of
Trustmark National Bank under
the Community Reinvestment
Act. See
below.
Now
The Peoples Bank's CEO, who
made the loans to Avenatti,
has responded. On fair
lending, the responsive is
dismissive to Home Mortgage
Disclosure Act. And on the
Avenatti loans, it says the
issue is not worthy of a
response. Really? Response,
which we were unable to copy
and paste from, on Patreon
here.
From the
protest: The applicant
The Peoples Bank in 2020 in
Mississippi based on its
disparate marketing made 108
mortgage loans to whites --
while making only TEN loans to
African Americans. This is far
out of keeping with the
demographics, and others
lenders, in Mississippi, in
particularly in The Peoples
Bank's CRA assessment areas -
this is
outrageous.
Fair
Finance Watch is also timely
contesting whether, given its
documented record of
negligence, The Peoples Bank
is qualified to take on more
trust business. The Peoples
Bank made three dubious loans
to now incarcerated Michael
Avenatti -- Inner City Press
has covered the cases -- as
set for in
https://www.justice.gov/usao-cdca/press-release/file/1147466/download
This criminal case - and how
it reflects on The Peoples
Bank's due diligence and
managerial recources -
concerns at least three
loans: one for $850,500,
one for $2,750,000, and one
for $500,000. "The
Peoples Bank President Chevis
Swetman has not commented on
the charges against Avenatti,
saying only that he is still
going through the criminal
complaint." How do it reflect
on The Peoples
Bank?
How indeed.
Watch this site.
***
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