A. 
It shall be unlawful for any bank, savings-and-loan institution, credit union, insurance company or other person regularly engaged in the business of making mortgages or other loans for the purchase, construction, improvement or repair or maintenance of dwellings to deny such a loan to a person applying therefor or discriminate against him or her in the fixing of the down payment, interest rate, duration or other terms or conditions of such a loan because of the race, color, religious creed, marital status, sex, national origin, age or physical or mental handicap of such person or of the prospective occupants, lessees or tenants of the dwellings in relation to which the application for a loan is made.
B. 
It shall be unlawful for the Municipal Treasurer, finance agent, government official or any other person whose responsibility it is to account for public funds to knowingly invest or manage public funds, to deposit or cause to be deposited any public funds in any lending institution provided for herein which is found by the Commission to be committing discriminatory practices and where such findings were upheld by a court of competent jurisdiction. Upon the court's judicial enforcement of any order to restrain a practice of such lending institution or for said institution to cease or desist in a discriminatory practice, the Commission shall notify all persons in charge of public funds to the name of any such lending institution found to be practicing discrimination in the course of providing its customary commercial services. Upon receiving such notification, the appropriate fiscal officer of the City or agency thereof which has funds deposited in any lending institution which is practicing discrimination, as set forth herein, shall take immediate steps to have said funds withdrawn and redeposited in another lending institution. If, for reasons of sound economic management, this action will result in a financial loss to the City or any of its agencies, the action may be deferred for a period of not longer than one year. If the Commission notifies the City or an agency thereof that the lending institution in question has corrected its discriminatory practices, any prohibition set forth in this section shall not be applicable. Any notification by the Commission shall comply with the enforcement provisions of this chapter, and the same shall be binding upon the City officers receiving such notice.
Nothing in this article shall prohibit a religious organization, association or society or any nonprofit institution or organization operated, supervised or controlled by or in conjunction with a religious organization, association or society from limiting the sale, rental or occupancy of dwellings which it owns or operates for other than a commercial purpose to persons of the same religion or from giving preferences to such persons, unless the membership in such religion is restricted on account of race, color or national origin, nor shall anything in this article apply to a private membership club which is a bona fide club and which is exempt from taxation under § 501(c) of the Internal Revenue Code of 1954.