While Wells Fargo is busy promoting new services to potential customers, Baltimore residents should know that Wells Fargo is being investigated by the United States Department of Justice for predatory lending practices against African-Americans during the housing crisis.
This follows lawsuits by the city of Baltimore and the city of Memphis against Wells Fargo for allegedly using ”reverse redlining.” Vacant homes in Baltimore are hurting the economy, job growth, crime prevention, and home values. Without a stable property tax base in the city, Baltimore will never be able to grow economically and create the jobs we desperately need. For more information on Wells Fargo, please click on the links below:
Top 10 reasons why Baltimore shouldn’t roll out the welcome wagon for Wells Fargo.
Documents from Relman, Dane & Colfax — the law firm litigating the case for the city of Baltimore.
- Complaint by the City of Baltimore
- Declarations from former Wells Fargo employees about loan practices in Baltimore
Center for Responsible Lending