Bank of America N.A. has agreed to maintain revised policies, conduct employee training and pay compensation to victims to resolve allegations that it engaged in a pattern or practice of discrimination on the basis of disability and receipt of public assistance in violation of the Fair Housing Act (FHA) and the Equal Credit Opportunity Act (ECOA).
The settlement, which is subject to court approval, was filed in federal court in Charlotte, N.C., where Bank of America is headquartered. The terms of the settlement require Bank of America to pay $1,000, $2,500 or $5,000 to eligible mortgage loan applicants who were asked to provide a letter from their doctor to document the income they received from Social Security Disability Insurance (SSDI).
Read more about this settlement here: http://www.justice.gov/opa/pr/2012/September/12-crt-1116.html
Posted by Sheri R. Abrams, Attorney at Law, www.sheriabrams.com