Baltimore is suing Well Fargo
“Baltimore’s mayor and City Council are suing Wells Fargo Bank, contending that its lending practices discriminated against black borrowers and led to a wave of foreclosures that has reduced city tax revenues and increased its costs.
In 2006, Wells Fargo made high-cost loans, with an interest rate at least three percentage points above a federal benchmark, to 65 percent of its black customers in Baltimore and to only 15 percent of its white customers in the area, according to the lawsuit. Similarly, refinancings to black borrowers were more likely to be higher cost than to white ones and to carry prepayment penalties.
With advocacy day on February 6th.
Join smart growth advocates from around the country on Capitol Hill. Advocacy Day is a great way to take full advantage of this year’s conference location in our nation’s capitol. Advocates will visit with their representatives to talk about key smart growth issues facing the 110th Congress. It’s your chance to support a smart growth agenda in Congress.