Industry News

Ohio bank settles real estate discrimination case

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Cincinnati-based Fifth Third Bank has settled a discrimination case with the U.S. Department of Housing and Urban Development for $125,000 without acknowledging wrongdoing, HUD said. HUD's Office of Fair Housing and Equal Opportunity pursued the case on behalf of Nannette Bishop, an African-American, who alleged that she was denied a loan to purchase a house in Newport, Ky., solely because of her race, HUD said. "We are glad that the situation has been resolved," Debra DeCourcy, a Fifth Third Bank spokeswoman, said. The bank had no other comment. In August 2003, Bishop applied for a $70,000 loan to buy a house that cost $130,000, HUD said. She had expected to receive another $60,000 from a private, non-profit United Way agency under a special second-chance subsidy program that helps consumers who have blemishes in their credit histories, according to HUD. Bishop alleged that in September 2003 Fifth Third Bank told her that her loan was denied because she failed to meet the bank's und...