Wells Fargo Pays $234.3 Million to Resolve Allegations of Racial Discrimination in Providing Mortgage Loans

Justice Department Reaches Settlement with Wells Fargo Resulting in More Than $175 Million in Relief for Homeowners to Resolve Fair Lending Claims

African-American and Hispanic Borrowers Who Qualified for Loans and Were Charged Higher Fees or Rates or Were Improperly Placed into Subprime Loans Are Eligible for Compensation

On July 12, 2012, the U.S. Department of Justice filed the second largest fair lending settlement in the department’s history to resolve allegations that Wells Fargo Bank, the largest residential home mortgage originator in the United States, engaged in a pattern or practice of discrimination against qualified African-American and Hispanic borrowers in its mortgage lending from 2004 through 2009.

Read more at U.S. Department of Justice website: http://www.justice.gov/opa/pr/2012/July/12-dag-869.html

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