Monday, February 27, 2012
The U.S. Department of Housing and Urban Development charged Bank of America Corp. on Monday with discriminating against three disabled borrowers in Michigan and Wisconsin.
The nation's biggest bank is accused of violating the federal Fair Housing Act, which prohibits lenders from discriminating against disabled borrowers, among other provisions, in 2009 and 2010.
The government said 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 statements from their doctors to get loans.
The Justice Department is also reviewing the case.