NAACP Targets Wells Fargo, HSBC In Separate Class Actions Alleging Violations Of Fair Housing, Civil Rights, Equal Credit Opportunity Acts

The NAACP announces:

• [Friday], the NAACP filed separate lawsuits in U.S. District Court in California against two of the country’s largest lenders, Wells Fargo, and HSBC. These lawsuits allege systematic, institutionalized racism in sub-prime home mortgage lending.(1) The remedies being asked for in the lawsuit include measures for increased accountability and transparency.

For more, see NAACP Files Landmark Lawsuit Today Against Wells Fargo and HSBC (Remedies would benefit millions of potential borrowers).

For the lawsuits, see:

• NAACP v. Wells Fargo Bank & Wells Fargo Home Mortgage,
• NAACP v. HSBC Mortgage & HSBC Bank.

Go here, Go here, and Go here for other posts on alleged discrimination in real estate transactions.

(1) According to the NAACP press release, these two new lawsuits raise the same claims as pending litigation by the NAACP against other mortgage industry leaders. Lenders named in this pending litigation include Accredited Home Lenders, Inc., Ameriquest Mortgage Co., Bear Sterns Residential Mortgage Corp. d/b/a Encore Credit, Chase Bank USA, Citimortgage, First Franklin Financial Corp., First Tennessee Bank d/b/a First Horizon National Corp., Fremont Investment & Loan, GMAC Mortgage Group, LLC, GMAC ResCap, Long Beach Mortgage and SunTrust Mortgage. DiscriminationPredatoryLendingAlpha