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Article: Redlining: the Justice Department cases. (lawsuit against Chevy Chase Federal Savings Bank F.S.B.)(Cover Report: Fair Lending)
- Article from:
- Mortgage Banking
- Article date:
- September 1, 1995
- Author:
CopyrightCOPYRIGHT 1995 Mortgage Bankers Association of America. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Knowing how the Justice Department gathers and weighs its evidence in a redlining investigation is important for lenders today. The lead attorney in the investigation of Chevy Chase chronicles how the department stacked up its evidence in two much-debated cases.
The justice department's recent redlining lawsuit against chevy chase federal savings bank and its mortgage subsidiary has been the subject of intense debate and criticism. The department accused the institution of redlining black neighborhoods through sophisticated marketing practices designed to avoid soliciting loans from those areas. The case was settled by a consent decree in which the thrift agreed to ...