Black Money Business Jobs : Philadelphia sues Wells Fargo for discriminating against African Americans; bank denies allegations

Discussion in 'Black Money Business Jobs' started by Liberty, May 16, 2017.

  1. Liberty

    Liberty Banned MEMBER

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    Philadelphia sues Wells Fargo for discriminating against African Americans; bank denies allegations

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    Philadelphia has filed a federal lawsuit accusing Wells Fargo & Co. of overcharging more than 1,000 black and Latino homebuyers for loans to buy homes in the city since 2004.



    Citing six confidential informants who formerly worked for the bank, the city says Wells Fargo knew or should have known that those borrowers could not handle these loans at those terms.

    The suit, filed in U.S. District Court, says unnecessarily expensive loans drove minority borrowers toward foreclosures that cost the city unpaid taxes, drove down property values, and violated the federal Fair Housing Act.

    Read more

    http://www.philly.com/philly/blogs/...cans-savett-berger-montague-fair-housing.html

    Philadelphia sues Wells Fargo for discriminating against African Americans; bank denies allegations

    'Discriminatory mortgage loans' or 'a fair and responsible lender?'
    philly.com
     
  2. Chevron Dove

    Chevron Dove Well-Known Member MEMBER

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    I used to bank with them, but now I don't. I am not fortunate enough to be a home owner, but due to what I feel was very racist situation, I stopped banking with them. They are good at pitting Blacks against Blacks and etc.
     
  3. jamesfrmphilly

    jamesfrmphilly going above and beyond PREMIUM MEMBER

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    :11100:buy a home if you can....
     
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