Wells Fargo Wins a Mortgage Discrimination Lawsuit

Wells Fargo & Co. won an early round in a lawsuit accusing the bank of running a predatory mortgage-lending scheme in the Atlanta area before the 2008 financial crisis and continuing to discriminate against minorities for more than a decade afterward.

A federal judge said a complaint filed by three Georgia counties in 2021 had to be dismissed because the Fair Housing Act only reaches back two years and the suit didn’t include enough specifics about alleged misconduct by the bank during that time period.

But the judge gave officials with Fulton, DeKalb, and Cobb counties 30 days to revise and refile the case to provide more information, including names of borrowers and addresses of their properties.

Read the source article at Yahoo Finance