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Tag Archives: subprime loans
Reverse Redlining and the Destruction of Minority Wealth
By Asma Husain Associate Editor, Vol. 22 In 2012, Wells Fargo entered into a $175 million settlement after being accused of pursuing discriminatory lending practices. Specifically, the bank and its subsidiaries were accused of charging African Americans and Latinos higher rates … Continue reading
Posted in Current Events
Tagged abusive home loans, African-Americans, Bank of North Dakota, banks, cities versus suburbs, City of Los Angeles, discrimination, Fair Housing Act, home loans, Latinos, minorities, minority communities, minority wealth, predatory lending, public bank, racial discrimination, redlining, reverse redlining, settlement, subprime loans, wealth disparities, Wells Fargo
