A former senior banker at China Merchants Bank is suing her ex-employer and three of its top executives, claiming she was fired from the New York office after complaining about discriminatory lending practices.
Xin Wang, CMB’s head of corporate banking in the US until February this year, alleges she was dismissed five days after escalating concerns over “redlining,” or the denial of credit to specific neighbourhoods or communities, particularly on the grounds of race.
In her complaint, filed in the Southern District of New York, Ms Wang claims CMB declined to take full part in a loan involving real estate in Harlem, which was being shopped around by the sponsor, Morgan Stanley.
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