SouthEast Bank agrees to $1.5M student loan discrimination settlement

Officials for SouthEast Bank in Tennessee agreed to pay a $1.5 million settlement after the Department of Justice on Saturday filed a federal complaint accusing the bank of disproportionately denying student loan financing requests from blacks and indigenous Americans. Image by the Department of Justice
Jan. 20 (UPI) — Officials for Tennessee’s SouthEast Bank agreed to pay $1.5 million to settle federal claims accusing the bank of discriminating against black and aboriginal graduates seeking to refinance their student loans. The settlement resolves claims made by the Department of Justice accusing the bank of engaging in lending discrimination by allegedly disproportionately discouraging or denying student loan refinancing requests made by black and aboriginal college graduates. Advertisement