Fair Housing Advocate Tags Another Bankster With Race Discrimination Charges In Connection With Post-Foreclosure Handling Of Repossessed Homes

The National Fair Housing Alliance recently announced:

• [T]he National Fair Housing Alliance (NFHA) and four of its member organizations announced a federal housing discrimination complaint against U.S. Bancorp and U.S. Bank National Bank Association.(1)



• This complaint, which was filed with the U.S. Department of Housing and Urban Development, is the result of an undercover investigation of U.S. Bank's properties that found that its foreclosed properties in White areas are much better maintained and marketed than its properties in African-American and Latino neighborhoods. U.S. Bank is the fifth largest commercial bank in the United States.



• The investigation of 177 foreclosed properties owned by U.S. Bank 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 U.S. Bank investigation evaluated REO properties in the seven metropolitan areas of Atlanta, GA; Chicago, IL; Baltimore, MD; Dayton, OH; Miami/Fort Lauderdale, FL; Oakland/Richmond/Concord, CA; and Washington, DC.

For more, see National Fair Housing Alliance Alleges Discrimination in Marketing and Maintenance of Foreclosed Properties.

(1) The NFHA recently tagged Wells Fargo with similar accusations.