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Merrick Garland, Biden DOJ unveil plan to crack down on discriminatory financial lenders

Added 10-22-21 07:22:02pm EST - “Attorney General Merrick B. Garland on Friday announced a new Justice Department initiative to crack down on discriminatory financial lending practices.” - Washingtontimes.com

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Posted By TheNewsCommenter: From Washingtontimes.com: “Biden DOJ unveils plan to crack down on discriminatory financial lenders”. Below is an excerpt from the article.

Attorney General Merrick B. Garland on Friday announced a new Justice Department initiative to crack down on discriminatory financial lending practices.

During a news conference, Mr. Garland said the initiative will target illegal “redlining,” which occurs when a lender denies services to someone based on his race or ethnicity. 

Under the initiative, the Justice Department will ramp up efforts to investigate and file fair lending lawsuits under the 1968 Fair Housing Act and the 1974 Equal Credit Opportunity Act, which prohibit discriminating against someone based on race, religion, age or sex.

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“Much has changed since the federal government engaged in Depression-era redlining, but discriminatory lending practices by financial institutions still exist,” Mr. Garland said. “Unfortunately, redlining remains a persistent form of discrimination that harms minority communities.”

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