Thursday, Jul 12 2012 09:48 AM
Wells Fargo to pay at least $175 million to settle bias in lending allegations
By THE ASSOCIATED PRESS
WASHINGTON -- The Justice Department says Wells Fargo & Co. will pay at least $175 million to settle accusations that it violated fair-lending laws.
Wells Fargo allegedly engaged in a pattern or practice of discrimination against qualified African-American and Hispanic borrowers in its mortgage lending from 2004 through 2009.
At a news conference, Deputy Attorney General James Cole said the government will ensure that borrowers hit hard by the housing crisis will have an opportunity to access homeownership.
Cole said the bank's discriminatory lending practices resulted in more than 34,000 African-American and Hispanic borrowers in 36 states and the District of Columbia paying higher rates for loans solely because of the color of their skin.
loading next article...
Facebook
Twitter
Mobile
RSS
Most CommentedMost Popular
About two dozen protesters stood in front of Kern County Superior Court next to the Liberty Bell Thursday morning to make a statement about police brutality.
The death of a man in custody following a prolonged struggle with Kern County Sheriff's deputies and CHP officers and the subsequent fracas over confiscated witness cellphones have gained international attention and raised concerns here that the incidents could tarnish the county's emerging...
Sheriff’s investigators served a search warrant on Kern Medical Center and the Mary K. Shell Mental Health Center seeking medical records to find possible reasons for David Sal Silva’s behavior prior to and during his encounter with law enforcement, The Californian learned Friday.
The Kern County Sheriff's Office is out of control. That's one conclusion many people will draw based on the events of the past two weeks and in the context of recent years.
Blood stains are still visible on the sidewalk at the corner of Flower Street and Palm Drive, where a Bakersfield man struggled with as many as nine officers and later died this week.
Responding to what he called a case that “has consumed the media and our community,” Kern County Sheriff Donny Youngblood said Tuesday he has asked the FBI to conduct a “parallel” investigation into the death of Bakersfield father of four David Sal Silva, who died May 8 after he was beaten by deputies.
Classes were canceled at Bakersfield High School Monday after three small bottle bomb explosions struck campus, authorities said.
Two cellphones confiscated last week from witnesses to the in-custody death of David Sal Silva were returned Wednesday to the attorney representing the witnesses.