A year after the Justice Department reached a $335 million deal with Bank of America Corp. to compensate minority borrowers for alleged discrimination, much remains to be done, according to a Wall Street Journal reported today. The department's settlement administrator just began notifying affected borrowers in November, about five months later than originally planned. Then, weeks after letters went out to more than 233,000 presumed victims, about 10 percent of those letters have been returned as undeliverable, according to Justice Department officials. U.S. officials had warned that it might take two years for eligible borrowers to receive money from the settlement, but they also expressed hope that checks could be mailed out sooner.
