Wintrust faces charges of bias against black borrowers

0
By Grace Dixon (May 26, 2022, 4:03 p.m. EDT) – Wintrust Financial Corp. and an affiliate have been hit with a proposed class action lawsuit in federal court in Illinois alleging the pair systematically discriminated against potential black borrowers, granting them fewer loans with worse terms compared to white applicants.

Kathleen Bankhead, who is black and a career attorney with the Cook County State’s Attorney’s Office, filed claims against Wintrust and Barrington Bank & Trust Co. NA on Wednesday, alleging that loan data that banks are required to disclose under federal law showed a clear nationwide pattern in which banks favored white applicants over black applicants.

Residential mortgage policies, sales practices and…

Stay one step ahead

In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.

  • Access to case data in articles (numbers, filings, courts, nature of lawsuits, etc.)
  • Access to attached documents such as briefs, motions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and more!

TRY LAW360 FREE FOR SEVEN DAYS

Share.

Comments are closed.