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February 29, 2012

More Bank of America Controversy

Recently, Bank of America received blacklash for wanting to charge consumers for using their debit cards.  Now, they have allegedly treated customers with physical/mental challenges unfairly.  This claim is according to the Department of Housing and Urban Development.  (HUD)

HUD representatives stated that bank staff had customers with physical/mental challenges complete requirements that weren’t necessary and “burdensome.” They also stated bank staff had customers with challenges obtain documentation from their doctor if they needed a loan.  Bank of America is viewed as one of the nation’s biggest banks.

“Holding homebuyers with disabilities to a higher standard just because they rely on disability payments as a source of income is against the law,” said John Trasviña, assistant secretary for fair housing and equal opportunity at HUD. “Mortgage companies may verify income and have eligibility standards but they may not single out homebuyers with disabilities to delay or deny financing when they are otherwise eligible.”

HUD representatives stated they were notified of the discrimination practice by customers who were physically/mentally challenged and seeking a loan in Wisconsin and Michigan.  Bank of America had no remarks on the topic.  This topic is currently being investigated by the U.S. Department of Justice.

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