Bank settles U.S. lawsuit that alleged redlining
First American Bank Corp. will open four new branches in Chicago area minority neighborhoods and offer discounted loans to minorities to resolve a discrimination lawsuit claiming the bank only did business in white neighborhoods. The settlement, announced Tuesday by the Justice Department and the U.S. Attorney's office in Chicago, resolves a civil-rights lawsuit filed by the federal government that claimed that First American purposely did not locate any of its 34 branch offices in minority areas. [more]