Wells Fargo accused of discriminatory lending
The lender is accused of offering higher mortgage rates to minorities.
Published On 13 Jul 2012
Protesters say that Wells Fargo and some other major banks offers higher mortgage rates to minorities.
The US Department of Justice says they have reached a settlement with one of the lenders, Wells Fargo – which has agreed to a $175m payout. However, that sum is tiny in comparison to the $4.2bn profit the bank made in just the first quarter of this year.
Al Jazeera’s Kimberly Halkett reports
Source: Al Jazeera