Trustmark settles redlining allegations with DOJ/OCC/CFPB; pays $5M penalty, commits $3.85M to loan subsidy fund

TRUSTMARK CORP

Civil money penalty of $5M: $4M to OCC, $1M to CFPB.
Over 5 years, $3.85M loan subsidy fund for majority-Black/Hispanic census tracts in Memphis MSA.
Additionally, $200K/year for advertising/outreach and $400K for community development partnerships over 5 years.
Will open a new mortgage loan production office in a majority-Black/Hispanic neighborhood in Memphis.
Alleged violations of Fair Housing Act, ECOA, and Consumer Financial Protection Act occurred 2014-2016.

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