NAACP Sponsor Wells Fargo Target of Justice Department Probe for Discriminatory Lending

by Dr. Boyce Watkins.

The United States Justice Department is preparing to launch an investigation against Wells Fargo, a company that serves as the largest home mortgage lender in the country.  The company is being accused of taking advantage of minority consumers by selling them loans that were overpriced and more likely to lead to default.

Wells Fargo is not only the fourth-largest bank in the United States, it is also a key sponsor of the annual NAACP Convention.  The organization took criticism last year when they dropped a discrimination lawsuit against the company shortly before announcing that they were set to receive money from the bank.

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  • Omarali81

    we need our owne money/everything

  • John Prewett

    Government  interferring ]with banking is one reason USA financially going belly up.

    • Pcblst

      You’re wrong.

      • John Prewett

        So it’s good for government to lean on banks and compel them to loan money to people that otherwise would not qualify.    Then later when they cannot/will not make the payments,  accuse the bank of  tricking them into taking the loan in the first place.