Litigation
Jul. 14, 2012
Wells Fargo settles predatory lending charges with DOJ
Wells Fargo & Co., which has been dogged by lending discrimination lawsuits following the boom and bust of the nation's real estate market, has agreed to pay $175 million to settle allegations of discrimination with the DOJ.
Daily Journal Staff Writer
WASHINGTON - The lending arm of San Francisco-based banking giant Wells Fargo & Co. agreed to pay $175 million to settle allegations that it discriminated against black and Latino borrowers by funneling them into mortgage loans with less favorable terms than they were qualified to receive, the U.S. Justice Department announced Friday.
The bank has been dogged by lending discrimination lawsuits f...
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