Categorized | USA

Philadelphia sues Wells Fargo for discriminating against African Americans; bank denies allegations

PHILADELPHIA — Philadelphia has filed a federal lawsuit accusing Wells Fargo & Co. of overcharging more than 1,000 black and Latino homebuyers for loans to buy homes in the city since 2004. Citing six confidential informants who formerly worked for the bank, the city says Wells Fargo knew or should have known that those borrowers could…

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