Report: DOJ Preparing to Sue Wells Fargo for Racial Discrimination in Mortgage Lending

According to a report in the Huffington Post:

The Department of Justice is preparing a lawsuit against Wells Fargo, the nation's largest home mortgage lender, for allegedly preying upon African American borrowers during the housing bubble and steering them into high-cost subprime loans, according to three people with direct knowledge of the probe.

Read the entire story here.

Comments

[Disappointed]

All African American affected by this scam should be reimbursed fully. This type of business practice in America should be outlawed once and for all. Many companies do this because the business laws needs to be update and/or changed.

[american home mortgage servicing inc out business]

I can't believe a reputable company such as Wells Fargo would do such a horrible action. As if the foreclosure and mortgage crisis wasn't enough to deal with. This type of corruption needs to be stopped, Wells Fargo should be punished, and the African American borrowers should get reimbursed. Thanks you for this shocking news.