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September 28, 2023

RI bank to pay $9M over bias claims

PROVIDENCE, R.I. (AP) — A community bank in Rhode Island agreed to pay $9 million to resolve allegations that it engaged in lending discrimination by redlining majority-Black and Hispanic neighborhoods, a U.S. attorney announced Wednesday.

A complaint accused Washington Trust Company of failing to provide mortgage lending services to majority-Black and Hispanic neighborhoods in Rhode Island from 2016 to 2021. The bank was founded in 1800, and according to the Justice Department is the oldest community bank in the nation.

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