Lakeland Bank will remain under court oversight until September 2027 after it engaged in redlining in Newark

Lakeland Bank will remain under court oversight until September 2027 after it engaged in redlining in Newark, according to a recent ruling by U.S. District Judge Claire C. Cecchi. The ruling comes after the federal government attempted to end the bank’s five-year consent decree, which Lakeland agreed to in 2022 to resolve allegations of intentional discriminatory practices. Cecchi said that Lakeland must still establish a $12 million subsidy fund for people seeking a mortgage, improvement, and refinance loans.

From New Jersey Monitor.