- Associated Bank announced Friday it had entered into a conciliation
agreement with the U.S. Department of Housing and Urban Development.
The agreement is meant to resolve a HUD investigation into the
bank’s lending practices between 2008 and 2011.
CEO Philip B. Flynn saidthe
company is pleased to have concluded the discussions and will fully
comply with the agreement, which requires enhancements to its lending
“We agree with HUD that we can improve our performance in some of
the communities and neighborhoods we serve,” Flynn said. “Weremain
committed to the promotion of home ownership and lending in those
The company’s commitments in the agreement and its current lending
practices will generate almost $200 million in new loans in targets
areas over the next three years.