Tuesday, June 30, 2009

Judge To Rule Within Days On Whether To Allow Baltimore's "Ghetto Loans" Suit To Proceed After Hearing "Test Run" Of Discriminatory Lending Claim

In Baltimore, Maryland, The Baltimore Sun reports:
  • Having heard what he called a "test run" of Baltimore's discriminatory lending claim against Wells Fargo on Monday, a federal judge said he will rule within days on whether the civil case can proceed to discovery - a process that could reveal the inner workings of one of the region's largest mortgage lenders. Baltimore's lawsuit against Wells Fargo, filed in January last year, alleges that the company violated the federal Fair Housing Act by disproportionately pushing black borrowers into oppressive subprime loans that were "destined to fail."

For more, see Judge's ruling in mortgage-lending case is days away (City's lawsuit advancing against Wells Fargo at stake).

See also, The Maryland Daily Record: Wells Fargo awaits ruling in Baltimore reverse-redlining suit.