M&T Bank
A lawsuit filed in federal court in Manhattan in February accused one of the nation’s largest banks, M&T Bank, of racial discrimination and even had secret tapings to back its claims. The lawsuit was filed by the Fair Housing Justice Center in New York that is funded by the U.S. Department of Housing and Urban Development. From 2012 to 2014, the Fair Housing Justice Center sent actors of different racial backgrounds to the bank to see if they would qualify for a mortgage. Black, Latino and Asian homebuyers were frequently denied mortgages, although they presented better incomes and credit scores than the white actors. Many of the interactions were secretly taped. The lawsuit also claims that the bank was caught encouraging homebuyers to move to certain neighborhoods based on their race and, in many instances, urging Black homebuyers to avoid moving into neighborhoods that were predominantly white. Join the conversation!