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The Peoples Bank Dismissive on Lending Disparities & to Avenatti Inner City Press Raises

By Matthew Russell Lee, Patreon Maxwell Book
BBC-Guardian UK - Honduras - ESPN NY Mag

SOUTH BRONX / SDNY, May 7 – Based in Biloxi, Mississippi The Peoples Bank made loans to now convicted Michael Avenatti, while disproportionately NOT lending to African Americans in their community. Fair Finance Watch, with Inner City Press on the FOIA, challenged its application to the FDIC to acquire trust assets of Trustmark National Bank under the Community Reinvestment Act. See below.   

   Now The Peoples Bank's CEO, who made the loans to Avenatti, has responded. On fair lending, the responsive is dismissive to Home Mortgage Disclosure Act. And on the Avenatti loans, it says the issue is not worthy of a response. Really? Response, which we were unable to copy and paste from, on Patreon here.

From the protest:  The applicant The Peoples Bank in 2020 in Mississippi based on its disparate marketing made 108 mortgage loans to whites -- while making only TEN loans to African Americans. This is far out of keeping with the demographics, and others lenders, in Mississippi, in particularly in The Peoples Bank's CRA assessment areas - this is outrageous.  

 Fair Finance Watch is also timely contesting whether, given its documented record of negligence, The Peoples Bank is qualified to take on more trust business. The Peoples Bank made three dubious loans to now incarcerated Michael Avenatti -- Inner City Press has covered the cases -- as set for in  This criminal case - and how it reflects on The Peoples Bank's due diligence and managerial recources - concerns at least three loans:  one for $850,500, one for $2,750,000, and one for $500,000.  "The Peoples Bank President Chevis Swetman has not commented on the charges against Avenatti, saying only that he is still going through the criminal complaint." How do it reflect on The Peoples Bank?    

 How indeed. Watch this site.


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