OceanFirst Bank settles fair lending claims; commits $14M to mortgage subsidy fund

OCEANFIRST FINANCIAL CORP

OceanFirst Bank voluntarily resolved DOJ and HUD claims under Equal Credit Opportunity Act and Fair Housing Act for New Brunswick area lending.
Bank commits at least $14M to a mortgage loan subsidy fund over 5 years for eligible residents in Middlesex and Monmouth counties.
Also agrees to invest $400K in community partnerships, $140K/year marketing, and provide financial education workshops.
No civil penalties; settlement continues existing loan and community development programs.

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