Bank of America Fair Housing Act violations—the trouble continues

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?

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2 thoughts on “Bank of America Fair Housing Act violations—the trouble continues

  1. Alberto Garza says:

    Please be advised that I am contacting you in hopes of informing you of the abusive practices of Bank of America regarding home foreclosures. My family and I are from Edinburg, Texas and we have gone through two floods that cost us over one hundred thousand dollars in repairs. We used all our savings and retirement to rebuild our home and have lost a child during these devastating events. All of which have been documented with Bank of America. However, they have simply been unwilling to assist us in anyway. Bank of America has utilized callus, malicious, unprofessional, condescending, argumentative, and insulting practices to avoid helping us. I would like to speak in front of Congress and the U.S. Senate regarding Bank of America’s abusive practices. In addition, I have sent a letter of complaint to Bank of America Office of the President. You can contact me at the following e-mail: retiremenow777@yahoo.com

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