FNB settles DOJ fair lending probe; to provide $11.75M in mortgage subsidies over 5 years

FNB CORP/PA/

Settlement with DOJ and State of NC resolves fair lending allegations regarding mortgage lending in Winston-Salem and Charlotte, NC markets.
Bank to provide $11.75M in mortgage loan subsidies over five-year period as part of settlement.
Bank disputes allegations but settled to avoid litigation; no civil penalties levied against the bank.
Investigation covered period prior to Yadkin's 2017 merger with First National Bank.

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