Bank of America Consumer Loan Complaint

Bank of America Consumer Loan department,

Installment loan Taking out the loan or lease Georgia

Synopsis of credit denial. I believe denial of a commercial business loan by Bank of America for - - - -, -, with which they have a 12 year positive payment history, which has unpledged assets greater than 4 times the principal value of the loan requested, and in which they initiated the transaction and presented a loan proposal having all credit information, both personal and business available to them prior to the proposal having been made, and then basing the commercial loan denial on a personal home foreclosure was an excuse and not the true reason for the loan denial. The true reason can only be related to the telephone interview with - - -. On -/-/-, prior to the telephone interview, my financial and credit history with Bank of America had been sufficiently positive for - - to contact me and inquire if I wanted to refinance the balloon. On -/-/-, also


financial and credit history with Bank of America had been deemed acceptable enough to proceed with a telephone interview and therefore to continue with the loan process. The 19 year old - bankruptcy was known to Bank of America and the foreclosure information was available to them prior to - - initial query about refinancing the balloon. This information was available to Bank of America prior to the loan proposals having been provided or the collection of financial documents or the telephone interview. Therefore, based on the reasons cited by Bank of America for denying the commercial loan, there should never have been an inquiry regarding refinancing the balloon, a loan proposal presented, collection of financial records, or a telephone interview. Ostensibly, the one impediment to granting the loan was known to Bank of America before the process began. After having been told specifically by - - that the business financials were acceptable for loan approval something associated with the telephone interview that is not related to the financials, either personal or business, was the true reason for the loan denial. The primary question is what could be revealed about a loan applicant that is not discernible on paper? The answer : one 's race is easily discernible linguistically. I believe being linguistically profiled as - is the unspoken and true reason for my business 's commercial loan denial. - - of - University published work affirming that racial identity could be very accurately determined by voice. -, -. - - - - ; -. Discriminatory lending practices are consistent with Bank of America 's lending ethos, specifically in -/-/- when they settled unfair lending claims for $330.00 - dollars, in -/-/- when they agreed to pay $10.00 - dollars over loan discrimination changes and most recently in -/-/- when they were charged by HUD for discriminatory lending practices.