Wells Fargo: Difference between revisions
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== 2012 Class Action Lawsuit == | == 2012 Class Action Lawsuit == | ||
In 2012 the United States department of justice reached a 184.2 million dollar settlement agreement with Wells Fargo over their discriminatory mortgage lending practices to African-American and Hispanic borrowers. At the time it was the second largest settlement of its nature. <Ref>https://www.justice.gov/opa/pr/justice-department-reaches-settlement-wells-fargo-resulting-more-175-million-relief</Ref> | In 2012 the United States department of justice reached a 184.2 million dollar settlement agreement with Wells Fargo over their discriminatory mortgage lending practices to African-American and Hispanic borrowers. At the time it was the second largest settlement of its nature. <Ref>https://www.justice.gov/opa/pr/justice-department-reaches-settlement-wells-fargo-resulting-more-175-million-relief</Ref> The settlement was subjected to court approval and would eventually increase to 1.2 billion dollars in 2016. <Ref>https://www.reuters.com/article/us-wellsfargo-housing/wells-fargo-to-pay-1-2-billion-in-u-s-mortgage-fraud-settlement-idUSKCN0VC1KO</Ref> | ||
Revision as of 23:39, 26 December 2022
2012 Class Action Lawsuit
In 2012 the United States department of justice reached a 184.2 million dollar settlement agreement with Wells Fargo over their discriminatory mortgage lending practices to African-American and Hispanic borrowers. At the time it was the second largest settlement of its nature. [1] The settlement was subjected to court approval and would eventually increase to 1.2 billion dollars in 2016. [2]