Settlement calls for payments of more than $7.5 million for Baltimore residentsUnder a landmark $175 million deal, Wells Fargo Bank will provide $7.5 million to the city of Baltimore to settle claims it engaged in price discrimination in its subprime mortgage lending practices. The settlement provides $125 million in compensation for borrowers who were steered into subprime mortgages or who paid higher fees and rates than white borrowers because of their race or national origin, the company said.
Comment on Wells Fargo settles pricing discrimination suit for $175 million
By Luke Broadwater, The Baltimore Sun, Baltimore Sun
Thu, 07/12/2012 - 11:16am
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