wells fargo (wfc) and Bank of America (BAC) agreed to pay record. However, courts increasingly frown on discrimination cases built on statistics. By those methods, whites theoretically could claim.
The Bank of America has agreed to settle a claim brought by the Department of Housing and Urban Development (HUD) on behalf of a lesbian couple that was denied financing for a home mortgage. Last.
HUD has reached a $5 million settlement with Wells Fargo Home Mortgage to resolve allegations of maternity leave-based discrimination.. Bank of America settled with HUD for $45,000 to resolve.
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1. Had Bank of America taken note of these data, and anticipated that the Department of Justice would do so as well, the bank might well have refrained from the takeover because its assumption of Countrywide’s liability in this and other cases has made the purchase a financial blunder.
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· Last week, HUD announced that it had come to an agreement with Bank of America to settle the claim of discrimination under the new Equal Access to Housing rule. The rule, which went into effect in March 2012, explicitly bans discrimination based on sexual orientation, gender identity or marital status under the department’s housing programs, including loans insured by the FHA.
· Bank of America neglected foreclosed properties in minority neighborhoods, suit claims. Safeguard said in a statement it does not condone or tolerate acts of discrimination, and accused the Housing Alliance of waging a continued attack on the company. The Housing Alliance said a multiyear investigation of more than 1,600 homes that Bank of America took possession of revealed a glaring.
Settlement Provides Compensation to Victims Identified by the Department of Justice and Establishes Procedures for Treating Borrowers Fairly Who Receive Disability Income. Under the settlement, Bank of America will conduct training of its underwriters and loan officers and will monitor loan applications to ensure that applications from disabled individuals are treated in a manner consistent with applicable law.
Banking, credit card, automobile loans, mortgage and home equity products are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend.