Source: Fox News —
North Carolina-based Bank of America recently came under fire over a reported plan to offer zero-down mortgages in minority communities, with some critics lodging complaints over the racial aspect, while others warned it reminded them of the preceding months of the 2008 banking collapse.
On “Special Report,” Bank of America CEO Brian Moynihan was asked about the policy, to which he said it is intended to attract all aspects of investment to underprivileged communities.
Various reports have said the banking giant will offer zero-down mortgage in minority communities in Charlotte, Dallas, Detroit, Los Angeles and Miami.
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