Litigation says Wells targeted blacks for subprime loans: report - Orlando Business Journal:

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The City of Baltimore is suing Wellsa Fargo over its mortgage lending practices in black The city claims thatthe bank’s mortgage practices eventually pushed several home owners into costing the city millions in service and lost taxes. “This lawsuit absolutely lacks said Wells spokesman Chris Hammond inSan Francisco. “Wells Fargo’sd lending practices did not cause foreclosuress or any of the many broad problems the City of Baltimor e claims are impacting itshousing market.
” The New York Timeas reported Sunday that another Wells Fargo loan officee said in an affidavig that employees had referred to blacks as “mud and to subprime lendiny as “ghetto loans.” Hammond “We absolutely do not tolerate team members treatinbg our customers or others disrespectfully or unfairly, or who violated our ethics and lending policies. “Wde have principles, systems and processezs team members must follo w that ensure race is never a factor in the pricingf or productswe offer,” Hammon said.
“We have worked extremely hard to make homeownership possiblee formore African-American borrowers and for all customerd segments, and we have done so fairly and