Christen Clark, Assistant Attorney General for the Civil Rights Division at the U.S. Department of Justice, led the way during a press conference about redlining that took place in Philadelphia last week. The Justice Department chose Malcolm X Park on 52nd and Locust Streets in West Philadelphia, as the backdrop for a press conference they held to announce that the Justice Department Consumer Financial Protection Bureau, secured an agreement with Trident Mortgage Company to resolve claims of redlining and discrimination in the Philadelphia metropolitan area, including communities in Camden, New Jersey, and Wilmington Delaware.
Christen Clark announced, “In addition, our state partners in PA, NJ, and DE have reached agreements with Trident and its affiliate companies, Fox and Roach. Our complaint filed in federal court charges that Trident violated the Fair Housing and the Equal Credit Opportunity Acts. Specifically, our complaint alleges that Trident office locations were concentrated in majority-white neighborhoods and those Trident Loan officers were directed not to serve the credit needs of neighborhoods of color, and Trident’s outreach and marketing avoided those neighborhoods. The complaint also alleges that Trident employees exchanged emails where they referred to neighborhoods of color as ghettos; and they made racist jokes. There’s even a photo of a senior Trident Manager posing in front of a Confederate flag.“
Christen Clark added, “Our complaint was filed along with a proposed consent order outlining the relief we have secured. Today’s agreement is historic for two reasons. First, this is the first redlining agreement that the Justice Department has secured with a mortgage company. Mortgage companies issue over 50% of the mortgage loans across the United States. They are important players in the credit market, and their redlining practices have a significant effect on the availability of credit. Other non-depository lenders should be on notice that the justice department will continue to enforce Federal Housing Laws to continue to ensure access to all. Our agreement with Trident is also the Justice Department’s second-largest agreement in history.
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