Bank of America named in housing lending controversy

DAYTON, Ohio (WDTN) - A noon time news conference is scheduled today that will level some very serious charges of discrimination against Bank of America.

The National Fair Housing Alliance (NFHA) and five of its member organizations will file another complaint, the third of its kind this year, with the U.S. Department of Housing and Urban Development.

It's the result of an undercover investigation into how major American banks are failing to maintain and market properties, including bank-owned or foreclosed properties, in African-American and Latino neighborhoods throughout the nation.

NFHA's investigation alleges a striking pattern of discrimination in which banks have maintained and marketed foreclosed properties in white communities in a far superior manner to foreclosed properties in communities of color further damaging those properties and communities.

Discrimination complaints have already been filed against Wells Fargo and US Bank, charges that the lending institutions deny saying quote " they conduct all lending-related activities in a fair and consistent manner without regard to race."

We'll be watching those developments this afternoon and have complete coverage on 2 NEWS beginning at 5.