Wells Fargo is facing a potential class action lawsuit and heightened scrutiny by federal regulators, after a Bloomberg News analysis found the lender rejected requests to refinance from Black homeowners at higher rates than other lenders at the outset of the pandemic.
Source: Inman News
‘Modern-day redlining:’ Wells Fargo faces scrutiny over Black refi stats
Published in AI, algorithms, appraisal bias, artificial intelligence, discrimination, discriminatory lending, disparate impact, Equal Credit Opportunity Act, Fair Housing Act, Mortgage, redlining, Regulations, Select and wells fargo
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