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Violation Tracker Individual Record

Company: Rhinebeck Bank
Penalty: $950,000
Year: 2022
Date: October 6, 2022
Offense Group: consumer-protection-related offenses
Primary Offense: discriminatory practices (non-employment)
Violation Description: Rhinebeck Bank agreed to pay penalties of $950,000 in settlement of allegations it violated New York State's fair lending law by making members of protected classes, namely race and/or ethnicity, pay higher interest rates than non-Hispanic white borrowers for their automobile loans, without regard to their creditworthiness.
Level of Government: state
Action Type: agency action
Agency: New York Department of Financial Services
Civil or Criminal Case: civil
Facility State: New York
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.