Items Tagged with 'Buffalo'


  • Evans Bank settles with New York over redlining

    Must begin lending in Buffalo’s predominantly African-American neighborhoods
    New York’s lawsuit alleged that, from at least 2009 to the present, Evans had redlined Buffalo’s predominantly African-American East Side neighborhoods, intentionally excluding these neighborhoods from its lending area.
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  • State of New York accuses Evans Bank of redlining

    Bank allegedly drew map which excluded African-Americans
    According to the suit filed on behalf of the People of the State of New York by New York Attorney General Eric Schneiderman, Evans Bank allegedly created a map of its “lending area,” which included most of the city of Buffalo, but excluded the predominately African-American neighborhoods on Buffalo’s Eastside.
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  • Viewpoint: The Latest Witch Hunt

    A story in Monday's New York Times ("Banks Starting to Walk Away on Foreclosures," March 20, 2009) rehashes a concept that's anything but new -- vacant properties, and the headaches that go with them. But what's irksome more than anything else in the Times' coverage is the suggestion that vacant properties are "the next phase" of the nation's housing crisis. Let's start with the premise of this latest example of psuedo-journalism, and the requisite villianization of the lender:
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  • Closing Costs Rise 14 Percent This Year

    The cost of getting a mortgage continued to climb last year, despite historic industry headwinds that saw demand for mortgages drop dramatically -- a study of average closing costs, released Thursday morning, found that 2007's average cost of $2,736 has jumped 14 percent to $3,118 in 2008. Which means that borrowers aren't just having a tougher time finding a mortgage, they're paying more to get it, too.
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  • Deutsche Bank Sued Over CDOs

    Banks suing other banks are likely to become much more common as the litigation machine warms up its engines in the wake of the mortgage-led financial market crunch. The latest case in point: Deutsche Bank AG [stock DB][/stock] and money manager HBK Investments LP are named defendants in a lawsuit filed Monday by Buffalo, New York-based M&T Bank Corp. [stock MTB][/stock], according to a published report.
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