Justice Dept: Wells Fargo to pay $175M [FedUp] - MarketTicker Forums


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User Info	Justice Dept: Wells Fargo to pay $175M in forum [FedUp]
Dmj625 Posts: 447 Incept: 2010-03-01 New Orleans, LA	http://www.washingtonpost.com/business/j.... Quote: WASHINGTON — Wells Fargo Bank will pay at least $175 million to settle accusations that it discriminated against African-American and Hispanic borrowers in violation of fair-lending laws, the Justice Department announced Thursday. Wells Fargo, the nation’s largest residential home mortgage originator, allegedly engaged in a pattern or practice of discrimination against qualified African-American and Hispanic borrowers from 2004 through 2009. At a news conference, Deputy Attorney General James Cole said the bank’s discriminatory lending practices resulted in more than 34,000 African-American and Hispanic borrowers in 36 states and the District of Columbia paying higher rates for loans solely because of the color of their skin. So the DoJ has time for this, but not MFGlobal, PFG, Liborgate, MERS, Fraudclosure, or anything else? ---------- "The more that laws and regulations are given prominence, the more thieves and robbers there will be." -Lao-tzu 2012-07-13 16:35:47 Permalink
Rjazz117 Posts: 17965 Incept: 2007-09-11	Just another fine that will be passed along to the customer. Meh. ---------- “To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abhors is sinful and tyrannical.” Thomas Jefferson 2012-07-13 19:53:36 Permalink
Expy Posts: 14672 Incept: 2007-09-05 Start the Demonization -Libtards!	Define 'qualified'. ---------- "IT'S THE INCOME/CASHFLOW SILLY"! {c expy } Where will incomes, wages, and profits/revenues come from to recover the economy after the spiral down? Certainly not the "New Service Economy". W/out massive new debt creation, [unlikely], and useful productivity, the public and business are probably screwed by a 2012-07-14 02:02:08 Permalink