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Baltimore Sues Wells Fargo for Predatory Lending

HeadlineJan 08, 2008

The City of Baltimore is suing Wells Fargo Bank, contending that its lending practices discriminated against African American borrowers and led to a wave of foreclosures that has reduced city tax revenues and increased its costs.
According to the lawsuit, in 2006, Wells Fargo made high-cost loans to 65 percent of its black customers in Baltimore but to only 15 percent of its white customers in the area.

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