In a groundbreaking announcement, the U.S. Department of Justice unveiled a remarkable $9 million settlement with Ameris Bank on Thursday, bringing an end to the longstanding allegations that the bank had engaged in a troubling pattern of redlining within the vibrant, majority-Black, and Hispanic neighborhoods of Jacksonville, Florida.
Ameris Bank Agrees to $9 Million Settlement: Investing in Equality and Justice
Under the terms of the proposed consent order, Ameris Bank commits to a transformative act of justice. The bank has pledged to invest a substantial $7.5 million in a loan subsidy fund, an initiative aimed at rejuvenating the economic vitality of the communities profoundly affected by the persisting issues of redlining.
A Beacon of Change
This historic settlement marks a defining moment in the Department of Justice’s enduring pursuit of combating redlining practices. In just two years, the DOJ’s relentless Combating Redlining Initiative has delivered an impressive sum of over $107 million in relief, underlining the unwavering commitment to justice and equality.
