Fidelity Bank settlement
RALEIGH, April 22, 2016 – The U.S. Department of Housing and Urban Development today announced a $1 million settlement agreement that resolves allegations of racially discriminatory lending practices made by our Fair Housing Project against Fidelity Bank.
Under the terms of the settlement, Fidelity will spend $500,000 a year for two years to make investments and community development loans in census tracts where the majority of residents are racial minorities. At least 40 percent of those investments and loans will specifically promote affordable housing.
Our Fair Housing Project filed a complaint with HUD in February 2015 alleging that employees of a Fidelity Bank branch in Raleigh had engaged in discriminatory lending practices based on race, in violation of the federal Fair Housing Act.
Our Fair Housing Project works to eliminate housing discrimination and to ensure equal housing opportunity for all people in North Carolina through education, outreach, public policy initiatives, advocacy and enforcement. Learn more at fairhousingnc.org.