In June 2016, the CFPB and the US Department of Justice filed a lawsuit against BancorpSouth for “redlining,” a “long documented” practice U.S. banks have employed to discriminate “against minorities who want to borrow.” CFPB’s lawsuit alleged the bank denied “more loans to African Americans and other minorities” compared to borrowers in whiter neighborhoods. BancorpSouth, which had 22 branches “in the Memphis area,” made “nearly all” of its loans “outside minority neighborhoods of Memphis.” An Associated Press story revealed that bank employees “us[ed] racial epithets, followed by laughter” when considering hiring an African-American employee.

• On June 16, 2016, the Department of Justice and the CFPB filed a lawsuit against BancorpSouth Bank in US District Court for the Northern Division of Mississippi, Aberdeen Division. [United States of America and Consumer Financial Protection Bureau v. BancorpSouth Bank, case no. 1:16-cv-00118, filed 06/29/16]

• In June 2016, “The Department of Justice and the Consumer Financial Protection Bureau fined Mississippi-based BancorpSouth $10.6 million, alleging the bank deliberately discriminated against minorities in its lending practices.” [Ken Sweet, “Regulators fine BancorpSouth $10.6 million for redlining”, Associated Press, 06/29/16]

• “The bank had 22 branches in the Memphis area between 2011 and 2013, all of which were located outside neighborhoods with large minority populations. Maps provided by the regulators also showed nearly all BancorpSouth’s loans originated outside minority neighborhoods of Memphis as well.” [Ken Sweet, “Regulators fine BancorpSouth $10.6 million for redlining”, Associated Press, 06/29/16]

• “Minority applicants were to be denied loans more quickly than white applicants, and minority applicants who were considered borderline for approval were denied based on race.” [Ken Sweet, “Regulators fine BancorpSouth $10.6 million for redlining”, Associated Press, 06/29/16]

• “In a stark example of the discriminatory culture at BancorpSouth at the time, bank employees were audio-taped using racial epithets, followed by laughter, when discussing the possibility of hiring of an African-American employee, according to the documents released by Justice Department and CFPB.” [Ken Sweet, “Regulators fine BancorpSouth $10.6 million for redlining”, Associated Press, 06/29/16]

• “The U.S. banking industry has such a long documented history of discriminating against minorities who want to borrow to the point there’s a term to describe it: redlining.” [Ken Sweet, “Regulators fine BancorpSouth $10.6 million for redlining”, Associated Press, 06/29/16]