By Mark Calvey
The City of Oakland said Tuesday that it sued Wells Fargo over allegations of predatory lending.
The federal lawsuit alleges that Wells Fargo targeted Oakland’s African-American and Hispanic residents, along with minority churches and congregations, for loans that were more expensive and higher risk than those regularly made to white borrowers.
“Wells Fargo’s discriminatory conduct devastated individuals and communities, increasing poverty and wiping out or drastically reducing wealth for minority… …read more
From:: biz journal foreclosures