What was Centier Bank accused of doing?
Centier Bank, a prominent independent community bank based in Indiana, faced legal scrutiny and regulatory challenges regarding historical lending practices and consumer fees. Decades ago, the United States Department of Justice reached a settlement agreement with the institution resolving allegations that it had engaged in a pattern or practice of discrimination under the Fair Housing Act and the Equal Credit Opportunity Act by failing to market and provide residential real estate loans on an equal basis to predominantly minority neighborhoods within its regional footprint. While the bank cooperated with federal authorities and entered into a consent order to invest in minority communities and expand branch access without admitting liability, it has also faced standard consumer class-action lawsuits concerning the assessment of overdraft and insufficient funds fees typical of the retail banking industry.
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