Justice Department Reaches Settlement with Bank of America

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The video for this lesson contains time sensitive information. Developments in the case discussed in the video which occurred after the release date are not covered in the video or this curriculum. See “Follow-Up Assignments” below to see a way of incorporating this fact in your lesson plan.

Lesson title

Justice Departments Reaches Settlement with Bank of America

Video title, link and release date

Justice Department Reaches Settlement with Bank of America; October 7, 2012

Video length

Two minutes and thirty-two seconds.

Grade level

High school

Video Summary

Bank of America has reached a settlement with the Department of Justice.

Bank of America will be paying individuals who were forced to undergo additional mortgage application requirements up to $5,000.

The bank’s previous policy required people who received social security disability income to provide a doctor’s note.

The US Department of Housing and Urban Development received complaints about this policy and, as a result, investigated the bank filed a lawsuit in February 2012.

Bank of America admitted no wrongdoing, but will also implement a training program for underwriters and loan officers.

For the next 42 months, the Department of Justice must approve any changes to the bank’s disability income policies.

Review Questions

1. What was the stated purpose of the doctor’s note policy?

 

2. What did the February 2012 lawsuit by the US Department of Housing and Urban Development allege was violated?

 

3. What does the settlement require Bank of America to do?

 

Free Writing Journal Prompt(s)

What about this report do you have questions about?

What do you want to know more about?

Follow-up Assignment(s)

Note the date of the video and, if a significant amount of time has passed, a good follow-up activity might be to do a Google search to see if there are any new developments

Do a Google search to find related information

 Credits

U.S. Department of Justice, DisAbility Rights Galaxy