NJ Spotlight News | Clip | Business Report: Redlining claims, housing market cools

NJ-based Lakeland Bank has agreed to pay $13M to settle claims it engaged in redlining — intentionally denying housing-related loans and credit to people of color. The U.S. Justice Department said Lakeland Bank failed to provide mortgages to people living in Black and Hispanic neighborhoods in Essex, Somerset and Union counties. As part of the settlement, Lakeland Bank admitted to no wrongdoing.