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Hawaii News

Unmet promises of mortgage loans to Native Hawaiians by Bank of America lead to dispute

  • DENNIS ODA / MAY 2

    In an April letter Gov. David Ige told Bank of America’s chief operations and technology officer that the bank committed $150 million in loans in connection with the bank’s 1993 application to acquire Liberty Bank in Honolulu, which was challenged by Na Po‘e Kokua, fiscal sponsor of the Hawai‘i Fair Lending Coalition.

A dispute over promises made 20 years ago by Bank of America to provide $150 million in mortgage loans to Native Hawaiians on Department of Hawaiian Home Lands land prompted Gov. David Ige to invite Bank of America officials to Hawaii this summer to discuss “a fair and final settlement.” Read more

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