CNB offers personal, savings, loans, online account opening, & commercial products. Richard A. Raffetto President City National Bank. Learn more about our Home Equity, Mortgage and Loan products by calling 800-896-0769. All rights reserved. City National Bank. From trusts and wealth management to mobile banking and credit . Previously, he served on various specialized roles for Promontory Financial Group, UBS Financial Services, as well as the U.S Government. It is unacceptable that redlining persists into the 21st century, and this case demonstrates our commitment to combat redlining and hold banks and others accountable when they engage in unlawful discrimination. ELITE CHECKING (MOST POPULAR ACCOUNT) PERSONAL CHECKING. City National Bank Of Florida has been rated a 5-Star "Superior" by BauerFinancial and has maintained that rating since June 2012. The average net worth of a Black family is a fraction of a typical white household, and homes in historically redlined neighborhoods are still worth less than homes in non-redlined communities. About Us. Secure .gov websites use HTTPS Were bigger, better, safer and stronger than ever. Turn on desktop notifications for breaking stories about interest? Invested toward charitable and civic programs to date. City National Bank is a subsidiary of Royal Bank of Canada. soflbi.com . is Executive Vice President, Chief Human Resources Officer for City National Bank of Florida (CNB) and has nearly 20 years of Human Resources experience. If you're sending an international wire transfer, you'll also need a SWIFT code. Non-Deposit Investment Products: Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value. The Justice Department said City National cooperated as part of their redlining investigation and is working to resolve its issues in other markets, as well. With assets of more than $95 billion and growing, our company has an exceptional deposit base, a strong balance sheet and capital ratios that easily exceed regulatory standards for well-capitalized institutions. Our commitment to people and relationships remains the starting point for everything we do. Name/Bank/City State Date; 2020-041: Ridhima Ahluwalia, City National Bank of New Jersey, Newark: Find City National Bank branch locations near you. The settlement with City National is the largest settlement with the Justice Department. App Store is a registered trademark of Apple, Inc. Google Play is a trademark of Google LLC. Zoom Meeting: * this review was made on City National Bank, Long Beach Marina Branch at Long Beach, CA The readers of the Daily Business Review have voted City National Bank as the Best Community Bank, Best Business Bank, Best Bank for Commercial Real Estate, Best Bank for Jumbo Loans, Best Private Bank, Best Foreign National Mortgage Lender, and Best Wealth Management for seven consecutive years. Citys commitment to personalized service and community support has earned it a spot as one of the most highly-rated community banks in the country. The Justice Department alleges City National, a bank with roughly $95 billion in assets, was so reluctant to operate in neighborhoods where most of the residents are people of color, the bank only opened one branch in those neighborhoods in the past 20 years. When you first visit this page, you should see a box appear asking . City National Bank has agreed to pay $31 million to settle lending discrimination allegations with the U.S. Justice Department, the agency said on Thursday. Through this agreement, we are taking a major step forward by removing unlawful and discriminatory barriers in residential mortgage lending, and meeting the credit needs in Los Angeles.. In 2019 he received the SFBW Apogee Award and was honored as Corporate Citizen of the Year by the Miami Beach Chamber of Commerce. "We disagree with the allegations, but nonetheless support the DOJ in its efforts to ensure equal access to credit for all consumers, regardless of race," City National said in a statement to ABC News." Stefanie Dazio/AP ", "The Justice Department will continue to build on our efforts to vigorously enforce federal fair lending laws and work to ensure that financial institutions provide equal opportunity for every American to obtain credit," Attorney General Merrick B. Garland said in a statement on Thursday. Jorge helped redesign the bank's business model in an innovative way, focusing on our clients and our community while emphasizing an exceptional client experience, building long-lasting relationships, and investing in the communities we serve. The U.S. Department of Justice announced a $31 million settlement with City National Bank over allegations that the Los Angeles-based bank engaged in "redlining" a pattern of lending discrimination in Los Angeles County. A lock (LockA locked padlock) or https:// means youve safely connected to the .gov website. Please do not submit any information that you consider confidential. We recommend that you review and evaluate the privacy and security policies of . Specifically, City National is working to facilitate additional homeownership opportunities in underserved communities, including by creating a residential mortgage special purpose credit program to cover geographic areas in various locations throughout the country, including New York, Georgia, Nevada, and Tennessee. From 2017 to 2020, City National Bank maintained just three of its 37 branches in majority Black and Latino neighborhoods, the complaint said. As City National Bank of Florida marks 75 yrs, we are Florida's Big Bank Alternative - home to the talent and tech of a large bank, along with personalized service and local decision-making. Ivan joined CNB from Chilean bank Bci, where he most recently served as the Regional Audit Manager for the Miami area. 72% of employees would recommend working at City National Bank to a friend and 60% have a positive outlook for the business. Jose received a Bachelor degree from Florida International University and a Master's degree from Florida International University. In 2016 and 2017, City National Bank of Florida was ranked among the Best Banks to work for by American Banker magazine. Founded in Beverly Hills in 1953, City National Bank has deep ties to the entertainment industry. Santa Monica. Ms. Suarez received her finance and lending education through the Academy of International Business (AIB), the leading association of scholars and specialists in the field of international business. Nasdaq Tower in Times Square in New York. So far, the Combating Redlining Initiative has secured over $75 million dollars in relief for communities that have suffered from lending discrimination. Hotel recommendations with corporate discount: The Biltmore Hotel - [email protected] But, Bertrand Goldberg's extraordinary Marina City complexlong a defacto architectural landmarkpassed its last legislative hurdle under the city's landmark's ordinance on Feb. 10 in a 48-0 vote by the City Council. In advance of what would have been Dr. Martin Luther King Jr.s 94th birthday, it is a fitting time to reaffirm our commitment to that work, and to the pursuit of justice for all Americans., This settlement is historic, marking the largest settlement ever secured by the Justice Department against a bank engaged in unlawful redlining, said Assistant Attorney General Kristen Clarke of the Justice Departments Civil Rights Division. Open one new branch in a majority-Black and Hispanic neighborhood and evaluate future opportunities for expansion within Los Angeles County; ensure at least four mortgage loan officers are dedicated to serving majority-Black and Hispanic neighborhoods; and employ a full-time Community Lending Manager who will oversee the continued development of lending in majority-Black and Hispanic neighborhoods. Regarding this, were driving concrete initiatives throughout the organization, which range from financial inclusion, financing and the ATTENTION CUSTOMERS CHECK HERE for updates on branch closures and time changes. Years later, the son of Mr. Abess - Leonard Abess Jr. - took the helm of the bank. Ivan Vera is the Chief Audit Officer for City National Bank of Florida (CNB) and holds more than 20 years of experience in risk management, including Bank Secrecy Act/AntiMoney Laundering compliance audits, regulatory compliance audits, loan reviews, allowance for loan and lease losses reviews, fair lending audits and consumer compliance audits. John P. Paradisi is Executive Vice President, Chief Strategy Officer for City National Bank of Florida (CNB) and has more than 20 years of banking experience. Ali holds a Bachelor of Science in Political Science from the University of California, and a Juris Doctorate from Temple University, Beasley School of Law. . 20-Jul-2011. The initiative is expanding the Departments reach by strengthening partnerships with U.S. Attorneys Offices around the country, regulatory partners and its partners in state Attorneys General offices. About Us Locations Contact Us. This activity will be carried out in City National Bank of Florida headquarters* in Miami and will be Prior community roles include executive committee positions with United Way, the Greater Miami Chamber of Commerce, Beacon Council, Downtown Development Authority, Museum of Discovery and Science, and the Miami Sports and Exhibition Authority. Copyright 2023 CNB Bank. Contact our Wealth Management Division at 304-255-7291. NEW YORK The Justice Department accused Los Angeles-based City National Bank on Thursday of discrimination by refusing to underwrite mortgages in predominately Black and Latino communities, requiring the bank to pay more than $31 million in the largest redlining settlement in department history. 2855 S. LeJeune Road, Coral Gables 33134 (305) 577-7334. . Lemar Whigham, City National Bank of New Jersey, Newark: New Jersey: 8/18/2020: 2020-047: H. O'Neil Williams, City National Bank of New Jersey, Newark: New Jersey: 8/17/2020: Personal Cease and Desist Orders. Is this the place for you? Irfan Khan/Los Angeles Times via Getty Images, Do Not Sell or Share My Personal Information, housing segregation persists in America's largest cities, exclusive ABC News analysis of mortgage-lending data. By Mark Calvey. policy commitment and processes, Bci joined the Nasdaq Sustainable Bond Network (NSBN). John joined CNB from CIT Bank in New York, where he most recently served as Managing Director, Chief Strategy Growth Officer from 2016 to 2019, and as Managing Director & Global Head of Corporate Development and M&A, Strategic Initiatives from 2010 to 2016. $0 or $12.95. CNB Bank assumes no liability for the content, information, security, policies or transactions provided by these other sites. Martin Estrada announce a proposed settlement of the governments lending discrimination lawsuit against City National Bank. Assistant Attorney General of the U.S. Department of Justice's Civil Rights Division Kristen Clarke (right) speaks next to U.S. Attorney Martin Estrada, of the California central division, while announcing the redlining case against City National Bank during a news conference on Thursday at the Second Baptist Church in Los Angeles. Routing Number: N/A. We get to know you on a deeper level, working with you to enhance your financial well-being. Make your dreams a reality by opening a checking or savings account. Stefanie Dazio/AP. "This settlement should send a strong message to the financial industry that we expect lenders to serve all members of the community and that they will be held accountable when they fail to do so," Assistant Attorney General Kristen Clarke, who leads the Justice Department's civil rights division, said in a statement. ATTENTION CUSTOMERS 2700 Mountaineer Blvd. Deposit products and services are provided by City National Bank Member FDIC. Gen. Kristen Clarke, right, and U.S. Atty. (304) 744-9650. There's more to success than what's on a balance sheet. Citibank Marina Del Rey branch is located at 4375 Glencoe Avenue, Marina Del Rey, CA 90292 and has been serving Los Angeles county, California for over 96 years. A settlement with the Department of Housing and Urban Development with Associated Bank in 2015 involved the bank making a commitment to make $200 million in increased lending in minority-majority neighborhoods, along with a $10 million subsidy fund similar to the one agreed to by City National. James joined CNB from Wells Fargo, where he served as Mortgage Consultant. Position: Relationship Banker (40 hrs) Tahoe City, CA<br>Location: Tahoe City<br>What you'll do<br><br>As part of Bank of the West, you'll be making a positive impact on the environment, your community, and the planet at a leading sustainable bank.<br><br>We are looking for a proactive and personable advisor with banking experience to fill the role of Relationship Banker. Out of my 25 to 28 yrs. Bank. The commitment to This resolution will include over $31 million in relief to impacted individuals and communities. The agreement, which is part of the Departments nationwideCombating Redlining Initiativethat Attorney General Merrick B. Garland launched in October 2021, represents the largest redlining settlement in its history. SPECIAL ACCOUNTS. City National Bank: Concentration: Commercial Lending Specialization: Established: 12/04/1953: . CityNET Login. This website uses JavaScript to ensure the best experience through the site. 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