NAACP dropping lawsuit against Wells Fargo
Published: April 9,2010
NEW YORK — The NAACP is ending its lawsuit against Wells Fargo that alleged the bank was forcing blacks into subprime mortgages while whites with identical qualifications got lower rates.
The lawsuit, filed over a year ago, is among more than a dozen the National Association for the Advancement of Colored People has filed since 2007 against large financial institutions.
As part of an agreement, San Francisco-based Wells Fargo will allow the NAACP to review its lending practices. The NAACP did not seek monetary damages in its suit, but said it sought to change behavior in the mortgage-lending industry.
The NAACP remains in litigation with 14 other financial institutions, including JPMorgan Chase & Co., Citibank Inc. and HSBC Holdings PLC over allegations of unfair lending practices and lending discrimination.
To sign up for Mississippi Business Daily Updates, click here.
3 Responses to “NAACP dropping lawsuit against Wells Fargo”
Mississippi Economic Council
Mississippi Chambers of Commerce
Mississippi State Legislature
Mississippi Development Authority
Mississippi Economic Development Council
North Mississippi News
Social Security Disability Lawyer
Auto Accidents Lawyer
Top Posts & Pages
- Aluminum company rumored for Columbus: 'clock' is for website, not plant site
- Shale oil: market correction or longterm direction?
- Miss. surgeon sentenced in tax evasion case
- MBJ exclusive: Jackson’s new airport CEO fulfills desire to taking on the top job
- WILLOUGHBY: Mayo Flynt leads AT&T Mississippi by enjoying both work and workers
- MARTIN WILLOUGHBY: Gary Herring building tomorrow by educating today
- J.McLaughlin to open in Highland Village next spring
- 'Blue Economy' important for Mississippi's future
- Hyatt-Place is Columbus’ newest hotel option