Green Bay-based Associated Bank N.A. entered into a conciliation agreement with the U.S. Department of Housing and Urban Development (HUD) on May 22, resolving HUD’s investigation into the company’s lending practices between 2008 and 2011.
The agreement requires a number of actions by Associated that are a continuation of its existing community lending and education efforts. They include enhanced training, a new branch location and loan production offices, expanded special financing programs, and affordable home repair grants. The company will drive increased awareness of these community-based programs through additional affirmative marketing outreach programs and financial education efforts.
When combined with the company’s current lending efforts, these commitments will generate almost $200 million in new loans in targeted areas over the next three years.
