Updated: 3:28PM
In the largest residential fair lending settlement reached in the Justice Department’s history, Bank of America has agreed to provide a $335 million fund to compensate victims of what one top DOJ official called “discrimination with a smile.” DOJ alleged that Countrywide, before it was owned by Bank of America, engaged in a “widespread pattern or practice of discrimination against qualified African-American and Hispanic borrowers” in their mortgage lending practices from 2004 through 2008.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=103087