Wells Fargo steered blacks and Latinos toward costlier mortgages, Philadelphia lawsuit

By Jonnelle Marte, The Washington Post

The city of Philadelphia has sued Wells Fargo, accusing the bank of discriminating against minority home buyers.

The complaint, filed Monday in a federal court in Pennsylvania, alleges that Wells Fargo violated the Fair Housing Act of 1968 by “steering” minority borrowers into mortgages that were more expensive and riskier than those offered to white borrowers, according to court documents.

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