In The News
Jeffrey P. Naimon quoted in S&P Global article, “Banks scrutinizing their lending practices as DOJ cracks down on redlining”
S&P GlobalJeffrey P. Naimon
The S&P Global article, “Banks scrutinizing their lending practices as DOJ cracks down on redlining,” examined the Department of Justice’s increased efforts to combat lending discrimination and redlining as well as lenders’ responses. The agency is not only focused on lending operations, but also on accessibility, branch locations, and minority representation, which constitutes a “new landmark” for nonbanks.
Naimon noted that nonbanks “have used different business models to do business, without needing to focus on whether they were serving a metropolitan area or whether their lending penetration in minority neighborhoods was the same as their overall penetration rates.” He also made note that many lenders are “taking proactive steps to avoid landing in regulatory hot water” by expanding their products and engaging with minority communities.
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