Four former employees say that Wells Fargo made clients in its Los Angeles region pay for missing deadlines to lock in interest rates on loans, even though the delays were the bank’s fault. by Jesse Eisinger ProPublica, Jan. 23, 2017, 8 a.m. Wells Fargo, the largest mortgage lender in the country, portrays itself as a […]
A judge awarded nearly $5 million to the attorneys representing plaintiffs in a lending discrimination class action lawsuit against Wells Fargo Bank
Posted By JON PRIOR On March 24, 2011 A Los Angeles Superior Court jury ruled against Wells Fargo (WFC : 32.02 +1.52%) Thursday in a mortgage discrimination case, awarding borrowers $3.5 million. The class-action lawsuit alleged the bank knowingly discriminated against borrowers in minority neighborhoods. As a result, borrowers were charged more for their loans […]
Amanda Bronstad March 24, 2011 A jury has awarded $3.52 million in damages to a class of Los Angeles homeowners who sued Wells Fargo & Co. for lending discrimination. The class members had alleged that Wells Fargo discriminated in its lending practices so that borrowers in predominantly minority neighborhoods were forced to pay more. On […]
LOS ANGELES, CALIF.–After a three-month trial, a Los Angeles Superior Court jury returned a $3,520,000 lending discrimination verdict today against Wells Fargo Bank. (Opal Jones, et. al v. Wells Fargo Bank, N.A., Wells Fargo Home Mortgage, et. al Los Angeles Superior Court, Case No. BC337821) The class action lawsuit alleged the bank consistently and knowingly […]
LOS ANGELES, CALIF. (Nov. 15, 2010)–Jury selection begins this week in Los Angeles Superior Court in a lending discrimination class action against Wells Fargo Bank. Class members are loan customers in minority communities in Los Angeles. Plaintiffs’ counsel will be arguing that Wells Fargo consistently and knowingly discriminated against borrowers in minority neighborhoods, resulting in […]
Just a year ago, the theory that poor and minority borrowers were to blame for the housing crisis took hold with a vengeance, and so did the belief that the government forced lenders to make subprime mortgages to meet affordable housing goals.
A Los Angeles Superior Court judge yesterday certified a lending discrimination class action against Wells Fargo Bank. The class action was brought against the lender on behalf of loan customers in minority communities in Los Angeles.
A lawsuit filed on behalf of minority mortgagors against Wells Fargo (WFC: 26.52 +1.18%) will proceed as a class action case after a Los Angeles Superior Court judge certified it as such. The suit alleges Wells Fargo discriminated against as many as 10,000 borrowers in minority communities by charging more for loans than borrowers paid
Wells Fargo loan customers in minority communities in Los Angeles filed a class action lawsuit against the lender on Friday, August 5, charging Wells Fargo with discriminatory loan practices. The complaint says Wells Fargo consistently and knowingly discriminated against borrowers in minority neighborhoods resulting in borrowers paying more for their loans than borrowers in other parts of Los Angeles County.