A North Carolina financial institution has reached an agreement to settle allegations that it discriminated against prospective borrowers because of their race.
On Feb. 9, 2015, a complaint was filed by the Fair Housing Project Legal Aid of North Carolina Inc. with the Department of Housing and Urban Development.
The group says it works to eliminate housing discrimination and ensure equal housing opportunity in North Carolina through education, enforcement and initiatives.
Fidelity Bank was the target of the complaint.
According to conciliation agreement announced Friday by HUD, Fidelity Bank was “responsible for discriminatory financing; discriminatory terms, conditions, or privileges or facilities in connection with financing; and otherwise denying or making housing unavailable because of race.”
Oct. 5, 2014, is the date of the most-recent alleged act.
HUD
claims Fidelity Bank violated the Fair Housing Act.
The agreement, executed on March 22, requires the bank to invest $1 million
in community development loans and investments in predominantly minority census tracts over a two-year period.
At least 40 percent of the loans will be to support affordable housing.
“In addition, The Fidelity Bank will display a HUD Fair Housing poster at its Oberlin Road branch in Raleigh,” HUD stated. “The bank will also prominently display its non-discrimination policies at that branch in English and Spanish, and provide fair lending training to staff, including loan originators and employees engaged in loan processing and underwriting.”
