The mayor of Riviera Beach, Fla., says a new lending policy by BB&T, the nation’s ninth-largest bank, is an updated version of redlining — the illegal practice of discriminating against borrowers in minority neighborhoods.
Mayor Michael Brown, who is black and leads one of Palm Beach County’s poorest cities, is outraged by BB&T’s announcement that the expanding North Carolina bank with 93 Florida locations won’t finance any public-private projects using eminent domain for economic development.
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