Housing Alliance Accuses U.S. Bank of Failing to Maintain, Market Foreclosed Homes

October 15, 2013
Milwaukee Journal Sentinel (WI) 
mortgage lending news

The National Fair Housing Alliance has amended its federal housing discrimination complaint against U.S. Bank to include Milwaukee on its list of cities where the lender has failed to maintain and market foreclosed homes in African-American and Latino neighborhoods.

The complaint against several major banks, originally filed in April 2012, accuses banks of concentrating their maintenance and marketing efforts for foreclosed homes in white communities. The alliance reports at least five maintenance or marketing deficiencies in 52 percent of U.S. Bank's real-estate owned homes, with those in communities of color 2.4 times more likely than white neighborhoods to have that many maintenance or marketing deficiencies. Of the 16 percent with 10 or more such deficiencies, none were located in white neighborhoods.

U.S. Bank calls the alliance's claims inaccurate, stating that it has cooperated with the alliance since the original claim was filed.

Abstract News © Copyright 2008-2013 INFORMATION, INC.
Powered by Information, Inc.

Stay Updated

Join the fight against predatory lending. Enter your e-mail to sign up for breaking news, action alerts, and CRL's original research.

   Please leave this field empty

Help Us End Predatory Lending

Predatory lending destroys family wealth, and preys on our most vulnerable communities. You can help us end abusive lending practices by donating to CRL, or by sharing our work with others.