Wells Fargo Lawsuit Dismissed in Predatory Lending Case

U.S. District Judge Otis Wright ruled on Friday to dismiss a lawsuit filed against Wells Fargo that accused the mortgage lender of violating the federal Fair Lending Act by engaging in predatory lending practices.

According to Wright, there we enough “undisputed facts” to show that Wells Fargo did not violate any FHA rules.

Back in 2013, the city of Los Angeles accused Wells Fargo of luring minority borrowers into high-cost loans they couldn’t afford since at least 2004.

Image via flickr/JeppersMedia

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