On July 12, 2012, the U.S. Department of Justice announced a $175 million settlement — the second largest fair lending settlement in the department’s history — to resolve allegations that Wells Fargo Bank engaged in a pattern or practice of discrimination against qualified African-American and Hispanic borrowers in its mortgage lending from 2004 through 2009. Under …
lending
Bank of America to Pay $160,000 to Settle Maternity Discrimination Claim
On June 7, 2012, the U.S. Department of Housing and Urban Development (HUD) announced that Bank of America agreed to pay up to $161,180 to settle allegations that one of the bank’s brances in San Jose, California, refused to refinance the mortgage of woman because she was on maternity leave. HUD reached the agreement with Bank of …
Justice Dept. Settles Lending Suit Involving Pregnancy Discrimination
On April 30, 2012, the United States Department of Justice announced the settlement of a lawsuit against the Mortgage Guaranty Insurance Corporation (MGIC) for discriminating against women on maternity leave in violation of the Fair Housing Act. According to its press release, the settlement is the DOJ’s first involving discrimination against women and families in mortgage …