Editor's PickLegal & Financial

Bank of America fined for refusing lesbian couple loan

The U.S. Department of Housing and Urban Development (HUD) announced a settlement agreement in a claim it brought against Bank of America for discriminating against a Florida lesbian couple applying for a federally insured mortgage loan.

HUD claimed Bank of America denied a loan to a Florida couple seeking to obtain an FHA-insured mortgage because of their sexual orientation and marital status.

Under terms of the agreement, Bank of America agreed to pay HUD $7,500 and to notify its residential mortgage loan originators, processors and underwriters of its settlement agreement with HUD.

In addition, Bank of America will advise its employees that they are prohibited from discriminating against FHA-loan applicants on the basis of sexual orientation, gender identity or marital status.

[via LGBTQ Nation]