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Midwest BankCentre

Midwest BankCentre settles redlining case

Jun 16, 2011
(via Flickr/steakpinball)

St. Louis-based Midwest BankCentre has settled a case with the Justice Department over alleged redlining in its lending practices.

Under the settlement the bank has agreed to open a branch in Pagedale and invest  a total of $1.45 million in predominantly black neighborhoods.

Eric Halperin is special counsel for the Justice Department.  He says racial discrimination in the lending market has increased as the economy continues to struggle.