ICP v. US Department of Treasury and Office of the Comptroller of the Currency
In August 2014, ICP filed suit against the United States Department of the Treasury (Treasury) and the Office of the Comptroller of Currency (OCC). ICP alleges that Treasury and OCC violated their duty to affirmatively further fair housing by knowingly, consistently, and repeatedly allowing and approving investments in LIHTC units that intentionally perpetuates racial segregation. Treasury administers the LIHTC program, and OCC administers the program that prohibits national bank ownership of LIHTC projects unless those investments are designed primarily to promote the public welfare, including the welfare of low and moderate-income communities or families (such as by providing housing, services, or jobs). Neither Treasury nor OCC have any regulations related to the perpetuation or elimination of racial segregation.
Banking on the Poor, Fort Worth Weekly article by Gayle Reaves
U.S. District Court Opinion denying in part and granting in part Treasury/OCC motion to dismiss. Doc.28 3:14-cv-03013-D, 8/4/15
8_04_15 Treasury Memorandum Opinion and Order