| Umpqua
Bank Still
Wants Fed
Merger
Approval As
Ponzi Lawsuit
Against It
Proceeds in
NDCA
By Matthew
Russell Lee, Patreon
FEDERAL
COURTHOUSE, Dec 21 –
Umpqua
Bank now has a
Ponzi scheme
class action
lawsuit
against it
proceeding to
trial. What
will the
Federal
Reserve, with
the Umpqua -
Columbia
application
before it, do?
This while its
2021
nationwide
mortgage
lending
record,
reviewed by
Fair Finance
Watch using
Home Mortgage
Disclosure Act
data, is
disparate.
In
2021
nationwide
Umpqua made
16,883
mortgage loans
to this, with
1560 denials
to whites -
which making
only 178 loans
to African
Americans,
with 27 denial
to African
Americans.
Inner City
Press, which
covers the DOJ
and
regulators, is
questioning
their lack of
action on
these
disparities.
In the
lawsuit, per
counsel,
An
Umpqua Bank
employee
admitted that
she removed
Casey’s name
from PFI’s
bank records
at the
company’s
request, even
though Umpqua
documents show
it knew Casey
was a
convicted
felon with a
history of
financial
crime.
So
where are the
regulators,
other than
rubberstamping
mergers? Watch
this site.
The
case is
20-cv-5905
(NDCA).
***
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