Bank of America accused of disability discrimination

2017, violate the Fair Housing Act, should be denied access to the question. The bank said the policies However, since then, oil futures latest to sound a cautious note in their the Justice Department said. American dream merely because of a were implemented after the financial have been rising faster than expected respective monthly reports. The IEA One of the nation's largest banks Under the recently reached settledisability," said Eric Dreiband, assiscrisis "for the purpose of protecting even though spot prices remained said it expected oil demand this year has reached a settlement with the fedment, Bank of America will pay tant attorney general of the Justice at- risk applicants from financial range-bound, the bank noted. to be down 8.1 million bpd from last eral government over allegations that $4,000 per loan to any eligible appliDepartment's Civil Rights Division. exploitation" and were voluntarily Because of this and because it expects year, while OPEC estimated a it discriminated against people with cant who was impacted by the dis"The Fair Housing Act prohibits changed. an oil market deficit of 4.9 million demand loss of 9.1 million bpd this disabilities underyear.guardianships.criminatorypolicies.ThebankisbanksfromdenyingmortgageloansBankofAmericaexpectsoilbpdforthesecondhalfofthisyear

Bank of America maintained expected to shell out about $300,000 and other housing-related credit to prices to recover to $60 a barrel for and another of 1.7 million bpd next With so much demand lost, the written policies barring adults with in payments. people because of their disabilities, Brent crude in the first half of next year, BofA expects prices to shoot up. news that supply was on the rise in disabilities who were under legal In addition, Bank of America has and this department will hold year thanks to shrinking global invenThe bank's analysts noted the July did not sit well with oil traders. guardianships or conservatorships agreed to maintain the new, non-disaccountable those lenders who tories and prices improving faster slump in drilling rigs, notably in the According to the IEA, supply rose 2.5 from obtaining mortgages or home criminatory policies and train its engage in such illegal conduct." than previously expected. U.S. shale patch, and the OPEC+ oil million bpd last month as Saudi equity loans, according to the U.S. employees on them. And, the bank is Bank of America asserts in the "Back in June, we upped our oil production cuts as some of the main Arabia relinquished its voluntary Department of Justice. required to monitor its loan processsettlement that it did not discriminate price forecasts by $5 per barrel (/bbl) factors that would push the oil market additional cuts of 1 million bpd and

The practices, which began in ing and underwriting to make sure against anyone because of a disability and argued that Brent would average into a deficit and prop up prices. as the UAE fell short of its production 2010 and lasted until the bank that it is complying with the Fair and that it did extend mortgages to $43/bbl in 2020 and $50/bbl in 2021," However, the demand side quota. U.S. output also began to rise changed its mortgage policy in 2016 Housing Act. people with legal guardianships or Bank of America's analysts said as remains a downward pressure for in July, casting a shadow over expecand its home equity loan policy in "No one conservatorships during the time in quoted by Trade Arabia. prices. The IEA and OPEC were the tations of supply tightening.

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