Bank of America Settles Antigay Discrimination Claim With HUD

The Department of Housing and Urban Development today announced that Bank of America has settled a discrimination claim filed by a Florida lesbian couple denied a mortgage because they’re not.

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.

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.

in exchange for the municipality dropping its Supreme Court challenge against certain housing-discrimination guidelines. about the department’s 2011 settlement over claims of unfair loans by Bank.

The group has filed a similar discrimination complaint against U.S. Bancorp (USB), which HUD is investigating. In June, Wells Fargo (WFC) became the first bank to settle a discrimination complaint pertaining to repossessed properties, paying $42.5 million to HUD with some of the money split among 14 private fair-housing groups.

Statement by nclr policy director maya Rupert, Esq. HUD brought the claim alleging that Bank of America’s denial of an FHA-insured mortgage loan from an otherwise eligible florida lesbian couple because they were not married constituted discrimination based on sexual orientation and marital status.

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The United States retains its full authority to recover losses – and penalties – caused to the federal government when a bank failed to satisfy underwriting standards on a government-insured or government-guaranteed loan, with the exception of certain faulty origination practices by Bank of America on FHA-insured loans. These claims were resolved with $1 billion as part of the settlement.

Ex-HUD Secretary Former. alleging workplace discrimination by a Wall Street firm, but stands out because the plaintiff is a man. This article was provided by Bloomberg News. In September, Bank of.

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