Democracy Now: Memphis Sues Wells Fargo over Mortgage Lending Practices


In other business news, the city of Memphis, Tennessee has filed a lawsuit against Wells Fargo for singling out black homeowners for high-interest subprime mortgages. The lawsuit alleges “unlawful, irresponsible, unfair, deceptive and discriminatory mortgage lending in Memphis and Shelby County.” Similar lawsuits have already been filed against Wells Fargo by the city of Baltimore and the state of Illinois.

~ by wheresthemic on December 31, 2009.

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