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Bank of America to Compensate Victims in Discrimination Suit

Major lender must pay mortgage applicants who were asked to provide details of their disabilities.

The U.S. Justice Department announced Thursday in a discrimination suit that Bank of America must compensate some borrowers who receive disability payments.

The nation's second-largest home lender must pay $1,000, $2,500, or $5,000 to borrowers who are asked to provide a letter from their doctor to document the income they receive from Social Security Disability Insurance, according to American Banker.

The suit includes approximately 25,000 mortgage applications between May 2007 and April 2012.

It is illegal to inquire about the nature or severity of a disability under the Fair Housing Act.

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Tracy September 24, 2012 at 03:37 AM
Being in the business of loans, you'd think BofA would be familiar with the laws.
Rocky September 24, 2012 at 03:42 AM
The person applying for the loan should know the laws as well. The bank does not have all the answers.
Ian September 24, 2012 at 06:28 PM
This is good news for people with disabilities.
Haggis September 24, 2012 at 11:21 PM
B of A is a worthy successor to EXON as the smartest guys in the room.

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