Tavis Smiley has teminated his business relationship with Wells Fargo over claims that the bank used well-known African-American Public figures to swindle minority borrowers into high-risk subprime homes loans. The “seminars” were held in over eight cities in predominately black neighborhoods under the pretense of “Wealth Building.” Smiley, who hosts his own PBS show, was […]
The state of Illinois is taking Wells Fargo to court for discriminatory practices. According to the State Attorney General Lisa Madigan, the bank’s lending company illegally discriminated against minority borrowers. Madigan claims that the bank, “disproportionately sold African-American and Hispanic borrowers high-cost, subprime mortgages, while white borrowers with similar incomes received mortgages with more favorable […]
