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News of the Competition (08/11/2014)
  • WASHINGTON (8/11/14)-- The mortgage arm of Fifth Third Bank, a regional banking corporation located in Cincinnati, has agreed to pay $1.5 million to settle allegations of engaging in a pattern of discrimination based on disability or the receipt of public assistance ; infractions that are in violation of the Fair Housing Act and the Equal Credit Opportunity Act ( Aug. 8). In addition to the dollar amount, the bank also will maintain revised lending policies and conduct employee training related to its underwriting practices. "Today's announcement holds lending institutions accountable for their actions, and is a reminder that every American has the right to apply for a home loan and live in the community of their choice," said Gustavo Velazquez, assistant secretary of the U.S. Housing and Urban Development's Office of Fair Housing and Equal Opportunity...

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