Monday, 17 January 2022 | The Latest Buzz for the Appraisal Industry

CFPB Fines Trustmark National Bank $5 Million For Alleged Redlining in Memphis

Trustmark National Bank, a Jackson, Mississippi-based company founded in 1889, will pay a $5 million penalty to the Consumer Financial Protection Bureau (CFPB) for discriminating against Black and Hispanic neighborhoods by deliberately not marketing, offering or originating home loans to consumers in majority-Black and Hispanic neighborhoods in the Memphis metropolitan area.

In addition to the fine, Trustmark will be required to invest $3.85 million via a loan subsidy program to increase nondiscriminatory access to

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