Bank of America to settle with feds over bias case

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  • I-5 Design and Manufacture

Between ad-pulling from a TV show about Muslim families to bias settlements with minority homebuyers, Charlotte-area companies have been hitting the bigot lottery lately.

From MSNBC.com:

Bank of America Corp's Countrywide Financial unit agreed on Wednesday to pay a record $335 million to settle civil charges that it discriminated against minority homebuyers, a historic settlement for the Obama administration in the wake of the subprime mortgage morass.

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The settlement covers conduct between 2004 and 2008 before the acquisition by Bank of America, and involves a range of alleged wrongdoing including charging African-Americans and Hispanics higher interest rates and fees and steering some to more expensive subprime mortgages.

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