Hate to break the news to some of you, but sexual orientation is not a protected class yet. Title VII protections do not extend to people that are gay, sorry.
Having said that, even if someone wanted to sue a fraternity or sorority for denying them membership based on discrimination, there is still probably no cause of action. For example, the Boys and Girls Scouts of America, private clubs/orgs. with membership standards and req. If you are gay, you won't be allowed to join. Can you sue them, no.
Lastly, fraternities and sororities are private groups. Not receiving any federal funding (to the best of my knowledge) and so they are not governed by the courts for what goes on inside their respective communities. As long as they are not breaking any laws, they in a sense immune to certain regulations.
On a personal note, I had a few gay friends in college, none in my fraternity. It probably wouldn't affect me, but I do believe my brothers would be a little uncomfortable.
- RUgreek
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