HUD, Charles Schwab Bank Reach $30,000 Discrimination Settlement
HUD and Charles Schwab Bank reached a $30,000 agreement settling allegations that the bank refused to accept a loan application from the son of a Metairie, Louisiana, woman with disabilities. The son, who was acting with his mother’s power of attorney, tried to apply for a loan on his mother’s behalf, but was told that the bank did not accept powers of attorney for “incapacitated borrowers.”Under the voluntary agreement, Charles Schwab Bank will: pay $25, 000 to the woman, $10,000 of which will go to St. Francis Xavier Church, as a charitable donation on behalf of the borrower; pay $5,000 to her son; permit persons with disabilities, where necessary, to use a power of attorney, at no additional cost; update the mortgage education section of its Web site to include questions and answers regarding powers of attorney; and provide fair lending/fair housing training for its employees.
No comments:
Post a Comment