United States v. City National Bank (C.D. Cal.)
On January 31, 2023, the court entered a consent order in United States v. City National Bank (C.D. Cal.). On January 12, 2023, the United States filed a complaint and a proposed consent order in US v. City National Bank (C.D. Cal.). The complaint alleges that City National Bank (City National), violated the Equal Credit Opportunity Act (ECOA) and the Fair Housing Act (FHA) by engaging in unlawful redlining in the Los Angeles Metropolitan Division (Los Angeles County) by avoiding providing credit services to majority-Black and Hispanic neighborhoods because of the race, color, and national origin of the people living in those neighborhoods. The consent order, was approved by the court and requires City National to invest at least $29.5 million in a loan subsidy fund for residents of majority-Black and Hispanic neighborhoods in Los Angeles County; invest $750,000 for development of community partnerships to provide services that increase access to residential mortgage credit in those neighborhoods; invest $500,000 for advertising and outreach in those neighborhoods; and invest $500,000 for consumer financial education.
Press Release (1/12/2023)
Comunicado de prensa (12 01 2023)
Remarks of Assistant Attorney General Kristen Clarke (1/12/2023)
Declaración de AAG Clarke (12 01 2023)