| Patriot Bank Settled on
Redlining After CRA Satisfactory
Rating from Federal Reserve
by
Matthew Russell Lee, Patreon Book
Substack
SOUTH
BRONX,
Jan 20 – Patriot Bank in
Tennessee settled redlining
discrimination charges with
DOJ on January 17, 2024.
But the Federal
Reserve in 2022 gave Patriot
Bank a "Satisfactory" rating
under the Community
Reinvestment Act, stating that
"no evidence of discriminatory
or other illegal credit
practices inconsistent with
helping to meet community
credit needs was
identified."
So the
Federal Reserve, at least its
CRA exams and merger reviews,
is not credible.
And DOJ? Settling
for less than $2 million?
Inner City
Press has submitted a FOIA
request to the Fed, on behalf
of Fair Finance Watch, about
another recent DOJ lending
discrimiantion case and FRB
merger, Provident / Lakeland -
watch this site
***
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