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Wells Fargo agreed to provide $50 million in direct down payment assistance to affected communities. [ 94 ] [ 93 ] In this suit, it was shown that in 2007 customers in the Chicago area who borrowed $300,000 from Wells Fargo through an independent broker had on average paid $2,937 more in broker fees if African-American, and $2,187 more if ...
Wells Fargo. According to analysts at Wells Fargo, mortgage interest rates of nearly 8% and rising home prices are making it unaffordable for many to buy a home — and risk tipping the entire ...
WASHINGTON -- Wells Fargo & Co has agreed to pay $125 million to resolve allegations it discriminated against certain borrowers on the basis of race and national origin in its mortgage lending ...
On Wednesday, Wells Fargo reached an agreement with the Federal Reserve and agreed to pay a $85 million fine to settle civil charges-- the largest fine the Fed has ever imposed in a consumer case ...
About 1,600 Wells Fargo customers said the bank froze their mortgage payments without their requests, according to an August memo the financial titan sent to a pair of lawmakers. The letter, dated ...
Wells Fargo for instance partnered with churches in black communities, where the pastor would deliver "wealth building" seminars in their sermons, and the bank would make a donation to the church in return for every new mortgage application. There was pressure on both sides, as working-class blacks wanted a part of the nation's home-owning trend.
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