The Department of Housing and Urban Development (HUD) issued a press release Monday morning alleging that Bank of America is guilty of “discriminating against borrowers with disabilities”, as reported by CBS Money Watch.
This allegation, along with slew of others against Bank of America, does not look good for the nation’s power bank.
“Bank of America imposed unnecessary and burdensome requirements on borrowers who relied on disability income to qualify for their home loans and required some disabled borrowers to provide physician statements to qualify for home mortgage loans,” HUD claimed in the CBS report.
The recent foreclosure fraud settlement was in response to the largest U.S. banks preying on their customers who need help with foreclosure and now accusations of discrimination are only making the situation even worse.
Bank of America reps responded saying, “there is no basis to allege that Bank of America has engaged in a systemic practice of discriminating on the basis of disability in connection with mortgage lending,” according to Reuters.
What claims will come next?