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Article: United Security Bancshares, Inc. Announces Settlement Agreement With Department of Justice.
- Article from:
- PR Newswire
- Article date:
- October 1, 2009
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THOMASVILLE, Ala., Sept. 30 /PRNewswire-FirstCall/ -- United Security Bancshares, Inc. today announced that, after lengthy negotiations, it has entered into a settlement agreement with the U.S. Department of Justice to resolve allegations that its subsidiary, First United Security Bank, violated the Fair Housing Act and the Equal Credit Opportunity Act through lending practices affecting African-American borrowers. The agreement was filed in federal district court in Mobile. It provides, among other things, that First United Security will revise the standardization of its loan pricing policies, adopt marketing initiatives to expand its business base in predominantly ...