Compared to $40 billion-plus in penalties, settlements, adjustments, and legal fees Bank of America has already racked up because it flat-out stinks at servicing home loans, a $45,000 payment split between two couples is a molecule in a drop of water in the bucket. But this story, in which BofA decided that pregnant homeowners were too big a risk for mortgage refinancing, is a good reminder of consumers’ rights under the law and of BofA’s general incompetence. [More]
More than two years ago, a Florida couple called up a supplemental insurance provider to take out a disability coverage plan in case the wife became pregnant. Her work doesn’t cover maternity leave, but the policy would help pay the bills while cared for the child. That is, if the insurer had sold them the correct policy.