Los Angeles Business Journal

Wells Fargo Settles Fair Lending Cases

Thursday, July 12, 2012

The Justice Department announced today that Wells Fargo & Co. will pay at least $175 million to settle allegations that the company discriminated against black and Hispanic borrowers. The Wall Street Journal reports that the nation's largest mortgage lender also will stop working with mortgage brokers, which now account for 5 percent of its home loan volume.