Memphis-area bank to pay nearly $2M to settle redlining accusations
“Patriot Bank has always acted to serve the home-mortgage credit needs in minority neighborhoods, and the bank’s strong record speaks for itself and flatly contradicts any allegation of wrongdoing,” said John Smith, Patriot Bank’s president and CEO. (Brad Vest/Special to The Daily Memphian)
The U.S. Department of Justice complaint alleges that from 2015 to at least 2020, Patriot avoided providing mortgage services to majority-Black and Hispanic neighborhoods and discouraged people seeking credit in them from obtaining home loans.
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redlining Patriot Bank U.S. Department of Justice United States Attorney Kevin Ritz Subscriber OnlyThank you for supporting local journalism.
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Aisling Mäki
Aisling Mäki has been writing about Memphis since she moved to the city more than 20 years ago. She’s worked for print, digital and broadcast news outlets, including Memphis Daily News and Action News 5 (WMC), as well as public relations agencies. Her work has earned awards from The Associated Press, Tennessee Press Association, Society of Professional Journalists and Public Relations Society of America.
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