Housing enforcement group sues M&T Bank for discrimination

February 09, 2015
One of the nation's largest banks discriminates against black, Latino and Asian homebuyers by offering lesser qualified white borrowers higher loan amounts and using hidden racial criteria in one of its loan programs, according to a lawsuit filed this week in federal court in Manhattan. The suit also accuses the bank of steering homebuyers to certain neighborhoods based on their race or ethnciity.
     The lawsuit claims that M&T Bank violated the landmark Fair Housing Act, a 1968 law that sought to end discriminatory lending practices and limit the historic segregation of many of the country's cities. The suit was filed by the Fair Housing Justice Center, a New York City-based non-profit organization that is funded by the U.S. Department of Housing and Urban Development to enforce the federal law that bans housing discrimination.