U.S. Bank cited by National Fair Housing Alliance for housing discrimination
For the second time in as many weeks, the National Fair Housing Alliance is filling a complaint against a major bank. This time it’s U.S. Bank.
The complaint alleges the bank failed to maintain and market its foreclosed properties in minority neighborhoods including some in Atlanta.
In this investigation, the National Fair Housing Alliance looked at hundreds of properties in seven cities.
According to the alliance U.S. Bank owns all the “Real Estate Owned” properties or REOs it investigated.
In Atlanta, the housing alliance selected neighborhoods where the bank had a high number of foreclosures. The properties were mostly located in the city of Atlanta and SW Fulton County. Gail Williams is with the Metro Fair Housing Services.
“In 73 percent of REO properties in communities of color, there was substantial amounts of trash as well as mail accumulate; in more than half the properties in communities of color there was overgrown grass and leaves as well as missing for sale signs.”
According to Williams, U.S Bank only had 2 properties in non-minority areas for comparison. Shawnna Smith is the president and CEO of the National Fair Housing Alliance. She says the type of deficiencies mentioned in the report affect a neighborhood beyond being an eyesore. She adds, it’s against the law.
“HUD regulations state that failing or delaying maintenance or repairs of sale or rental dwellings because of race, is prohibited under the fair housing act.”
In response to the complaint, U.S. Bank told WABE in many cases, it doesn’t own the properties but merely acts as the trustee for investors who actually hold the mortgage.
Officials with the housing alliance say if that’s true, U.S. Bank will have to prove it.
The U.S. Department of Housing and Urban Development will now mediate between the Housing Alliance and U.S Bank.
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