United States v. Evolve Bank and Trust (W.D. Tenn.)

On October 17, 2022, the court entered a consent order in United States v. Evolve Bank and Trust (W.D. Tenn.).   The complaint, which was filed on September 29, 2022, alleged that from at least 2014 through 2019, the bank engaged in lending discrimination on the basis of race, sex and national origin in the pricing of its residential mortgage loans.  The consent order requires the bank to amend its pricing policies, employ a fair lending officer who will work closely with the bank’s leadership, and have employees undergo fair lending training.  The consent order also includes a $1.3 million settlement fund to remediate borrowers harmed by this pricing discrimination and a $50,000 civil penalty.

Press Release (9/29/22)