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FDIC lifts 1st Mariner regulatory order

1st Mariner Bank, a subsidiary of 1st Mariner Bancorp, announced that the Federal Deposit Insurance Corp. has lifted a cease and desist order that it imposed on the Baltimore-based bank in April 2009.

The order required 1st Mariner to improve its compliance with fair lending practices. Specifically, the FDIC alleged that 1st Mariner had “engaged in a pattern or practice of discrimination” by charging higher interest rates and point overages to Hispanic, black and female borrowers than to similarly situated white or male borrowers.

The bank is still operating under a separate FDIC order issued in September 2009 requiring it to increase its level of capital.