Tags: BofA | fine | Anti-Gay | Claim

BofA Hit with First Fine in Anti-Gay Housing Claim

Wednesday, 02 Jan 2013 08:38 PM

A    A   |
   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink
Bank of America has been fined by the Department of Housing and Urban Development in the agency’s first enforcement action under anti-discriminatory rules that went into effect last year.

The financial institution will make an “administrative payment” to HUD for denying a mortgage to a couple based on their sexual orientation and marital status, according to Buzzfeed.

BofA will make the $7,500 payment, as well as add information to its employee manual regarding the HUD’s Equal Access Rule and how to avoid violating it, as a result of the agency’s ruling.

The bank initially told the couple they could qualify for a government-backed loan with a woman and her partner’s mother signing for it.

The day before they were to close on the mortgage, the bank informed the couple it did not consider the two people signing for the mortgage to be directly related because the woman and her partner were not married.

"This agreement demonstrates that HUD will vigorously enforce its Equal Access rule and pursue lenders that discriminate on the basis of sexual orientation, gender identity or marital status.

By the same token, BofA should be commended for stepping up and taking immediate corrective action after HUD notified BofA of the violation," said Helen Kanovsky, HUD’s general counsel.

© 2014 Newsmax. All rights reserved.

   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Retype Email:
Zip Code:
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Trump: Nevada Rancher in Position to 'Cut a Good Deal' With Feds

Wednesday, 16 Apr 2014 22:59 PM

Billionaire real estate developer Donald Trump thinks Nevada cattle rancher Cliven Bundy is in a strong position to cut  . . .

One Dead, Three Injured in Blast at Tennessee Ammunition Plant

Wednesday, 16 Apr 2014 21:58 PM

One person has died and three others were injured on Wednesday after an explosion at an ammunition plant in central Tenn . . .

Government Causes Generic Drug Shortage, Critics Say

Wednesday, 16 Apr 2014 16:49 PM

A proposed Food and Drug Administration rule on product labeling will exacerbate shortages of generic drugs already resu . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved