| First United Security Bank |
United States of America |
U.S. District Court for the Southern District of Alabama |
na |
The defendant was accused of lending discrimination and redlining by not offering equal access to some of its loan programs in predominantly black neighborhoods and charging blacks higher mortgage rates than similarly-situated whites in violation of the Fair Housing Act and the Equal Credit Opportunity Act. The defendant bank entered into an agreement with the DoJ to open a new branch in a black neighborhood and to spend $600,000 promoting its programs in affected neighborhoods. |
United States of America, Plaintiff v. First United Security Bank, Defendant |
Case No. 1:09-cv-0644 |
Sept. 30, 2009 |
www.mortgagedaily.com/Lawsuits102709.asp |
| Wells Fargo Bank, N.A., Wells Fargo Financial Tennessee, Inc., Wells Fargo Financial Tennessee 1, LLC |
City of Memphis, Shelby County |
U.S. District Court for the Western District of Tennessee |
na |
Memphis and Shelby County accuse Wells Fargo of various illicit lending practices, such as reverse redlining, encouraging credit worthy borrowers to purchase subprime instead of prime loans, increased vacancy rates have led to increased costs for the city and county providing services to these areas. |
City of Memphis v. Wells Fargo Bank N.A. |
Case No. 2:09-cv-02857-dkv |
Dec. 30, 2009 |
www.mortgagedaily.com/Litigation123009.asp |
