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Complaint alleges Old National Bank discriminated against Black borrowers

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The Fair Housing Center of Central Indiana filed a complaint against Old National Bank, accusing the bank of discriminating against Black mortgage borrowers in Indianapolis.

The bank “deliberately seeks to limit its residential lending business to predominantly White areas and customers and has removed branches in Black neighborhoods,” FHCCI said in a press release Oct. 7.

A spokesperson for Old National Bank said the bank “strongly and categorically” denies the claims.

“Old National is committed to engaging in fair and equal lending practices,” the statement said. “Because this is now the subject of pending litigation, we are unable to comment further at this time.”

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According to FHCCI, Old National Bank made over 2,250 mortgage loans from 2019 to 2020 in the Indianapolis metropolitan area, which also includes Carmel and Anderson. Only 23 loans were to Black borrowers in Marion County, and 37 were to Black borrowers across the entire Indianapolis area, FHCCI said. The borrower’s race was identified in 91% of those loans.

“Over the time period reviewed, Old National Bank has been one of the worst performers in making mortgage loans to Black home seekers in Central Indiana,” FHCCI Executive Director Amy Nelson said in a statement.

The complain also alleges the bank has disproportionately closed more branches in African American neighborhoods.

Contact staff writer Tyler Fenwick at 317-762-7853 or tylerf@indyrecorder.com. Follow him on Twitter @Ty_Fenwick.

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