In a settlement with the Department of Justice, Wells Fargo will pay $125 million in relief for homeowners to resolve fair lending claims. The settlement was the second largest fair lending settlement in the Department of Justice’s history.
The settlement came after questions about whether African-Americans and Hispanic borrowers were charged higher fees or rates for loans from 2004 through 2009. Without help from discrimination attorneys Utah minorities and those in other states would suffer.
Court documents said a government investigation found that Wells Fargo loans had varied rates, fees, and costs based only on race and not creditworthiness. However, Wells Fargo denied these claims. Wells Fargo said it reached the settlement solely to avoid extended litigation with the Department of Justice and would instead devote resources to continued fair credit practices.
The federal Fair Housing Act prohibits discrimination in mortgage lending. If you have been discriminated against based on race, color, national origin, religion, sex, familial status, or handicap, contact a lawyer in Utah to help you receive fair treatment.
To read the U.S. Department of Justice statement about the settlement, visit http://www.justice.gov/opa/pr/2012/July/12-dag-869.html. If you have been the victim of race discrimination or if you are accused of discriminating against someone, call attorneys Utah can depend on at Shumway Van & Hansen.
Shumway Van & Hansen always offers free consultations and often times can schedule an appointment within 24 hours. For more information please continue to utilize www.shumwayvan.com, call us at (801) 478-8080 or (702) 478-7770, or stop by either of our offices which are located at 8985 S. Eastern Ave, Suite 100, Las Vegas Nevada 89123 and 8 East Broadway, Suite 550, Salt Lake City, Utah 84111. We look forward to hearing from you soon.