Wells Fargo Sued for Racial Bias on Mortgage Loans

One would think the days of racial bias in the financial markets would have ended long ago. The joke has always been that a lender will be willing to make money off of anyone regardless of race, creed, gender, age and so on. Well, the law also now requires lenders to do so. Some, however, feel Wells Fargo hasn’t been complying with the law. Two African-American homeowners have sued the lender alleging it gave them different interest rates and points than Caucasian borrowers. Keep an eye out for developments in this case.