New York bank to provide $55 million in loans to settle bias allegations

September 1997
Jet;09/01/97, Vol. 92 Issue 15, p9
Reports on attempts by Albank to resolve US Justice Department allegations that it refused to make loans in some minority neighborhoods, a practice of bias referred to as redlining. Provisions for $55 million in cut-rate home mortgages to areas in Connecticut and New York; Comments from Albank president and chief executive officer Herbert Chorbajian.


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