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Wells Fargo gave high-cost, subprime loans more often to its highest-earning African-American borrowers in Baltimore and Chicago than to its lowest-earning white borrowers in 2007, according to an analysis of mortgage lending data by The Chicago Reporter.
Wells Fargo gave wealthy Chicago blacks subprime loans more often than poorer whites
chicagoreporter.typepad.com - 21 weeks ago - 323 views
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Great work from the Chicago Reporter.
Fantastic reporting, but disturbing as hell. This goes beyond simple predatory lending and amounts to the wholesale gutting of communities of color in Chicago. Screw the banks.
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