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Wells Fargo under scrutiny for alleged discrimination
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Banking, Case Law, Consumer Protection
Monday, March 28, 2022
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Wells Fargo is facing questions from Sens. Elizabeth Warren (D-Mass.) and Ron Wyden (D-Ore.) about the data and algorithms used in 2020 and 2021 to evaluate mortgage refinance applications. A potential class action suit has been filed in the federal district court in California claiming Wells Fargo has engaged in “modern-day redlining.” Democrat senators. on the banking committee call for the Consumer Financial Protection Bureau and the Department of Housing and Urban Development to investigate.
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