Photo by Steve Klamkin WPRO News
WPRO News and the Associated Press
PROVIDENCE, R.I. (AP) – Santander Bank says it’s aiming to provide at least $24 million in home mortgage loans to low- and moderate-income home buyers in Providence in the next three years.
The bank and Providence’s outgoing Mayor Angel Taveras made the announcement on Thursday.
The city sued the bank in May, accusing it of engaging in discriminatory practices by limiting its lending in the city’s minority neighborhoods. The two sides announced last month that the city was dropping the lawsuit, and that the bank would give $1.3 million in grants to support low- and moderate-income neighborhoods in Providence.
Taveras spokeswoman Dawn Bergantino says the city and bank are “finding ways to work together,” as they announced they would when dropping the lawsuit.
Taveras calls it is an important investment in the community.
