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Violation Tracker Individual Record

Company: Trustmark National Bank
Current Parent Company: Trustmark
Penalty: $5,000,000
Year: 2021
Date: October 22, 2021
Offense Group: consumer-protection-related offenses
Primary Offense: discriminatory practices (non-employment)
Violation Description: The Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ), in cooperation with the Office of the Comptroller of the Currency (OCC), took action to put an end to alleged redlining by Trustmark National Bank. The CFPB and DOJ alleged that Trustmark discriminated against Black and Hispanic neighborhoods by deliberately not marketing, offering, or originating home loans to consumers in majority-Black and Hispanic neighborhoods in the Memphis metropolitan area. The CFPB and DOJ also alleged that Trustmark discouraged consumers residing in or seeking credit for properties located in these neighborhoods from applying for credit. As part of the settlement, Trustmark was to pay a $5 million penalty to the CFPB, which would credit $4 million paid to the OCC toward the satisfaction of this amount.
Level of Government: federal
Action Type: agency action
Agency: Consumer Financial Protection Bureau
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Mississippi
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.