Predatory Lending

Predatory Lending

Background: May 2017 the City of Philadelphia sued Wells Fargo for predatory lending violations.. Cause of action:    Violated the Federal Fair Housing Act. The City alleged that, since 2004, Wells Fargo steered minority borrowers into higher cost, riskier loans than white borrowers even if they qualified for loans with better terms. The City alleged …

Predatory Lending Read More »