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The proposed settlement, which is subject to approval by a federal judge, resolves prosecutors’ claims that Bank of America had a policy of denying mortgage loans and home equity loans to adults who had legal guardianships or conservatorships.
July 23, 2020 at 06:48 PM
1 minute read
Bank of America will pay $4,000 each to some mortgage applicants whose applications were decided under an old version of the bank’s underwriting guidelines, according to a proposed settlement agreement filed Thursday in the Eastern District of New York.
The proposed settlement, which is subject to approval by a federal judge, resolves prosecutors’ claims that Bank of America had a policy of denying mortgage loans and home equity loans to adults who had legal guardianships or conservatorships.
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