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Hudson City Savings Bank to pay nearly $33 million on discriminatory redlining allegations

( September 24, 2015, 16:31 GMT | Official Statement) -- MLex Summary: The US Consumer Financial Protection Bureau and the US Department of Justice charged New Jersey-based Hudson City Savings Bank for allegedly discriminatory redlining practices that denied residents in black and Hispanic neighborhoods fair access to mortgage loans. If the proposed order is approved by a federal court, the bank will pay $25 million in direct loan subsidies to qualified borrowers in the affected communities, $2.25 million in community programs, and a $5.5 million penalty.Statement follows in full. Also see documents below....

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