Officials in New York City limited account deposits on Thursday at Capital One and KeyBank after the financial institutions failed to submit required anti-discrimination plans.
The city issued mandates earlier this year for banks which hold public funds to detail “specific steps to combat different forms of discrimination in their operations.” An announcement from the office of New York City Comptroller Brad Lander claimed that Capital One and KeyBank “outright refused” to comply with the requirement.
“Banks seeking to do business with New York City must demonstrate that they will be responsible managers of public funds and responsible actors in our communities,” Lander said in a statement. “Unfortunately, despite several opportunities to do so, five banks failed to comply with the New York City Banking Commission’s designation
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