Daily Updates

April 27, 2013

Bank fined $25,000 for lending discrimination

ATLANTA (AP) — A metro Atlanta bank is being fined $25,000 by federal authorities who say the bank discriminated against borrowers by publishing marketing materials exclusively in Asian languages.

The Atlanta Journal-Constitution reports the First Intercontinental Bank of Doraville agreed to the fine in a consent agreement with the Federal Deposit Insurance Corp.

The FDIC says the bank printed all of its marketing materials in only Asian languages for more than two years, from March 2007 to June 2009. The FDIC concluded the practice showed a pattern of discrimination against potential borrowers.

The bank did not admit to any violations by consenting to the fine.

 

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