Fair Housing Organizations File Discrimination Complaint Against Bank of America

WASHINGTON,  DC, Sept. 25, 2012 /PRNewswire-USNewswire/ -- Today, the National Fair Housing Alliance (NFHA) and five of its member organizations around the country announced a federal housing discrimination complaint against Bank of America Corporation, Bank of America, N.A., and BAC Home Loan Servicing, LP.

This complaint, which was filed earlier today with the U.S. Department of Housing and Urban Development, is the result of an undercover investigation that found that Bank of America maintains and markets foreclosed homes in White neighborhoods in a much better manner than in African-American and Latino neighborhoods. 

Bank of America is one of the largest American banks that maintains and sells foreclosed properties and is one of the world's largest financial institutions. 

The investigation of 373 foreclosed homes owned, serviced or managed by Bank of America demonstrates that the financial giant has engaged in a systemic practice of maintaining and marketing its foreclosed, bank-owned properties (also known as Real Estate Owned or REO properties) in a state of disrepair in communities of color while maintaining and marketing REO properties in predominantly White communities in a far superior manner.

 The investigation evaluated Bank of America REO properties in the eight metropolitan areas of Atlanta, GA; Dallas, TX; Dayton, OH; Grand Rapids, MI; Miami/Fort Lauderdale, FL; Oakland/Richmond/Concord, CA; Phoenix, AZ, and metropolitan Washington, DC. 

For a complete copy of the company’s news release, please contact:

 Cedric Ricks

National Fair Housing Alliance,

+1-202-898-1661 x 119,

cricks@nationalfairhousing.org

Web Site: www.nationalfairhousing.org