Home | Daily Dose | City of Oakland Lawsuit Accuses Wells Fargo of Reverse Redlining
Print This Post Print This Post

City of Oakland Lawsuit Accuses Wells Fargo of Reverse Redlining

reaching-for-moneyThe city of Oakland, California, has filed a lawsuit against Wells Fargo accusing the bank of reverse redlining by targeting minorities for high-cost mortgage loans which later led to foreclosures and blight when the borrowers defaulted.

Oakland's lawsuit, filed in the U.S. District Court, Northern District of California, accuses the nation's largest mortgage lender of violating the U.S. Fair Housing Act by steering minorities toward high-cost, "predatory" mortgage loans even if they qualified for more affordable loans, according to a report from Reuters. These loans included extra costs such as high interest rates, balloon payments, and large prepayment penalties, according to the suit

The lawsuit alleges that Wells Fargo refused to refinance these high-cost loans to minorities on the same terms for which they refinanced loans to white borrowers, which resulted in a disproportionate number of foreclosures that subsequently led to abandoned properties and neighborhood blight. According to the lawsuit, African-American and Hispanic borrowers in Oakland were 2.4 and 2.5 percent more likely to receive a predatory mortgage loan than comparable white borrowers. The lawsuit also states that loans made for houses in minority neighborhoods were 4.75 times more likely to end in foreclosure. According to the lawsuit, the disproportionate number of foreclosures would not have occurred had the bank applied uniform lending practices.

"Wells Fargo has been a part of the Oakland community for more than 140 years and we will vigorously defend our record as a fair and responsible lender."

The City of Oakland is also accusing Wells Fargo of violating the California Fair Employment and Housing Act, which, like the FHA's Fair Housing Act, bans all forms of discrimination in housing, including discrimination based on race.

Wells Fargo spokesman Tom Goyda expressed disappointment at the way the situation was handled and denied the City of Oakland's allegations. Wells Fargo is headquartered in nearby San Francisco.

"The City Attorney’s (Barbara Parker's) accusations against Wells Fargo do not reflect how we operate in the communities where we do business and it’s disappointing that she has chosen this course of action over a collaborative approach to helping borrowers and homeowners in Oakland," Goyda said in an email to DS News. "Wells Fargo has been a part of the Oakland community for more than 140 years and we will vigorously defend our record as a fair and responsible lender. We will continue to focus on helping customers in Oakland and its surrounding communities succeed financially, and on expanding homeownership in California and across the United States."

In early September, the 11th U.S. Circuit Court of Appeals revived three lawsuits the were brought about by the City of Miami, accusing Wells Fargo, Bank of America, and Citigroup of discriminatory and predatory mortgage lending practices to minority borrowers. However, a reverse redlining suit against Wells Fargo filed by the City of Los Angeles was dismissed in July. In early September, the City of Los Angeles dropped a reverse redlining case against JPMorgan Chase.

About Author: Brian Honea

Profile photo of Brian Honea
Brian Honea's writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master's degree from Amberton University in Garland.


  1. Pingback: City of Oakland Lawsuit Accuses Wells Fargo of Reverse Redlining - Appraisal Buzz

  2. Pingback: Levy San Diego Homes | City of Oakland Lawsuit Accuses Wells Fargo of Reverse Redlining

  3. Pingback: City of Oakland Lawsuit Accuses Wells Fargo of Reverse Redlining - Brokers TitleBrokers Title

  4. Pingback: 4.75 Mortgage | Your American Mortgage Rates

  5. Pingback: Wells Fargo Banks In San Francisco Ca | contact - get a savings bank account com

  6. Pingback: Reverse Mortgage Banks In California | the bank index

  7. Pingback: Banks In Oakland Ca | popular - get a savings bank account

  8. Pingback: Well Fargo Bank In California | asia - the bank index

  9. Pingback: Wells Fargo Banks In San Francisco Ca | asia - the bank index

  10. Pingback: Routing Numbers For Wells Fargo Banks In California | america - the bank index

  11. Pingback: Wells Fargo Bank In City Of Industry Ca | checking - small business banks

  12. Pingback: Wells Fargo Bank In Oakland Ca | credit-card small business banks

  13. Pingback: Wells Fargo Bank In Oakland California | the bank index

  14. Pingback: Wells Fargo Bank In Oakland California | local - small business banks

  15. Pingback: Wells Fargo Bank In California Routing Number | apply - mortgage loan bank

  16. Pingback: Wells Fargo Bank In California Routing Number | service - bank loans

  17. Pingback: Wells Fargo Banks In Oakland Ca | information - bankingadviceline

  18. Pingback: ray ban sunglasses

  19. Pingback: north face jackets clearance

  20. Pingback: louis vuitton bags

  21. Pingback: louboutin shoes

  22. Pingback: air max 2015

  23. Pingback: timberland outlet

  24. Pingback: north face jackets clearance

  25. Pingback: tiffany and co outlet

  26. Pingback: Wells Fargo Bank In California Routing Number | find - comparebanks

  27. Pingback: Wells Fargo Banks In Oakland Ca | interest - probanker

  28. Pingback: Wells Fargo Bank In California Routing Number | bankingadvice

  29. Pingback: Wells Fargo Bank In Oakland Ca | bankingadvice

  30. Pingback: Wells Fargo Bank In City Of Industry Ca | government - low interest loans

  31. Pingback: Wells Fargo Bank In City Of Industry Ca | bankingadviceline

  32. Pingback: Wells Fargo Bank In California Routing Number | qualified - loanspecialists

  33. Pingback: Wells Fargo Bank In Oakland California | benefits - thebankersclub

  34. Pingback: Routing Numbers For Wells Fargo Banks In California | haven - offshore banks

  35. Pingback: Wells Fargo Bank In City Of Industry Ca | top - topbanks

  36. Pingback: Phone Number For Wells Fargo Bank In California | events - thebankersclub

  37. Pingback: Wells Fargo Mortgage Routing Number

  38. Pingback: Phone Number For Wells Fargo Bank In California | top5 - topratedbanks

  39. Pingback: Foreclosure Statistics Oakland Ca | Rates for CPA Services for SMB

  40. Pingback: Check New Lyrics Site

  41. Pingback: Check New Lyrics Site

  42. Pingback: Check New Lyrics Site

  43. Pingback: Check New Lyrics Site

  44. Pingback: Hindi songs Lyrics 2016

  45. Pingback: Love Quotes | Rick Quotes

  46. Pingback: Foreclosure Oakland California | Rates for CPA Services for SMB

  47. Pingback: Reverse Redlining Lawsuit | How To Easily Claim Injuries

  48. Pingback: xmzw54tdny45ty85fkte5f4yxwex

  49. Pingback: cmwetcmurmt5y7etmssdgdfg

  50. Pingback: x3m8cn7wetsxnwdb4cgsdf

  51. Pingback: txm657b8xm5ecntx5ctsxerfgert

  52. Pingback: xt3cm85w7tvwhwxmtcne7t5xem4cegxf

  53. Pingback: 4cyn5et4m5t94c5t9m4vn54cx65

  54. Pingback:

  55. Pingback: alcoholism treatment

  56. Pingback: دانلود قسمت هشتم شهرزاد دوم

  57. Pingback: دانلود شهرزاد قسمت هفتم فصل دوم

  58. Pingback: دانلود قسمت سیزده عاشقانه

  59. Pingback: Lucia Fernandez

  60. Pingback: Bobbi Dylan

  61. Pingback: Cherry Hilson

  62. Pingback: hamptonbaycelingfanblog

  63. Pingback: Free Stuff Worldwide

  64. Pingback: slot machines

  65. Pingback: سریال عاشقانه

  66. Pingback: دانلود قسمت پنجم شهرزاد دوم

  67. Pingback: دانلود ققسمت 12 عاشقانه

  68. Pingback: nba melbourne

  69. Pingback: bypass windows 7 administrator password

  70. Pingback: videos porno

  71. Pingback: porno

  72. Pingback: taylormade m1 australia

  73. Pingback: porno gratis

  74. Pingback: Era

  75. Pingback: porno

  76. Pingback: porno

  77. Pingback: porno gratis

  78. Pingback: videos porno

  79. Pingback: پنجره ضد سرقت ایرانی ترک المانی

  80. Pingback: شرکت تولیدی پنجره

  81. Pingback: قیمت پنجره

  82. Pingback: ساخت پنجره دو سه جداره

  83. Pingback: دانلود قسمت هفدهم عاشقانه

  84. Pingback: دانلود فیلم سریال عاشقانه

  85. Pingback: how to make an virgo man open up

  86. Pingback: Facial Spa Services Hillsboro Beach

  87. Pingback: Acne Facial Treatments Lighthouse Point

  88. Pingback: Acne Facial Treatments Fort Lauderdale

  89. Pingback: Facial Spa Services Miramar

  90. Pingback: Facial Spa Services Pompano Beach

  91. Pingback: دانلود موزیک

  92. Pingback: best casino to gamble

  93. Pingback: black jack

  94. Pingback: see website

  95. Pingback: cheap jordans shoes

  96. Pingback: zynga poker chips for sale

  97. Pingback: Agen Judi

  98. Pingback: پنجره

  99. Pingback: slim led recessed light

  100. Pingback: coin-banks trading

  101. Pingback: coin-banks

  102. Pingback: DraftKings DFS

  103. Pingback: دانلود قسمت هشتم شهرزاد

  104. Pingback: l�info ++

  105. Pingback: mdansby

  106. Pingback: nicocontrol comprar

  107. Pingback: کول دانلول

  108. Pingback: vpm

  109. Pingback: taylormade m1 driver

  110. Pingback: پنجره دوجداره

  111. Pingback: دانلود شهرزاد قسمت سیزده 13

  112. Pingback: website for clash royale

  113. Pingback:

  114. Pingback: zobacz

  115. Pingback: Social Media Marketing

  116. Pingback: Get the facts

  117. Pingback: دانلود سریال شهرزاد قسمت 16

  118. Pingback: Roofing Contractors Long Island

  119. Pingback: دانلود

  120. Pingback: دانلودسریال عالیجناب قسمت دوم

  121. Pingback: دانلود سریال عالیجناب قسمت اول 1

  122. Pingback: قیمت پنجره

  123. Pingback: دانلود فیلم

  124. Pingback: آموزش پنجره دوجداره

  125. Pingback: دانلود فیلم

  126. Pingback: شرکت تولیدی پنجره دوجداره المانی

  127. Pingback: فروش توری

  128. Pingback: easy business ideas

  129. Pingback: promo codes

  130. Pingback: contributeur

  131. Pingback: Our Limousine service Vancouver BC office

  132. Pingback: buy home

  133. Pingback: sell home

  134. Pingback: دانلود فیلم با کیفیت

  135. Pingback: دانلود فیلم روز

  136. Pingback: Double chambered

  137. Pingback: پنجره دوجداره

  138. Pingback: ключар

  139. Pingback: دانلود فیلم

  140. Pingback: پنجره ضد سرقت

  141. Pingback: پنجره

  142. Pingback: پنجره

  143. Pingback: قیمت پنجره دوجداره

  144. Pingback: پنجره دوجداره

  145. Pingback: can you buy weed online

  146. Pingback: seo services UK

  147. Pingback: viagra

  148. Pingback: Mitch McConnell

  149. Pingback: garden bridges san francisco

  150. Pingback: Vancouver BC Airport Shuttle

  151. Pingback:

  152. Pingback:

  153. Pingback: 6 inch shower head

  154. Pingback: buy proxy

  155. Pingback: ed sheeran x album

  156. Pingback: download best

  157. Pingback: air jordan retro

  158. Pingback: Bad Spiderman

  159. Pingback: Learn Colors

  160. Pingback: google hd porn

  161. Pingback: Clicking Here

  162. Pingback: پنجره دوجداره

  163. Pingback: پنجره

  164. Pingback: پنجره

  165. Pingback: amazon reseller program

  166. Pingback: garden bridges

  167. Pingback: Seo

  168. Pingback: krzem i bor

  169. Pingback: Natividad

  170. Pingback: shopping

  171. Pingback: usi tech presentation

  172. Pingback: EVA TV

  173. Pingback: zumbido no ouvido e tontura é grave

  174. Pingback: 192 168.0 1 alterar senha wifi

  175. Pingback: karajupvc

  176. Pingback: casinos online

  177. Pingback: bowl chip

  178. Pingback: stainless steel bowl

  179. Pingback: دانلود

  180. Pingback: download movie

  181. Pingback: پنجره

  182. Pingback: پنجره

  183. Pingback: garden bridge

  184. Pingback: top real estate website themes

  185. Pingback: Agnes

  186. Pingback: MILF Slave Training Day One

  187. Pingback: blackhead removal

  188. Pingback: vape mods

  189. Pingback: watch porn google

  190. Pingback: cheap jordans shoes

  191. Pingback: google leaks

  192. Pingback: youtube video for children

  193. Pingback: test banks

  194. Pingback:

  195. Pingback:

  196. Pingback: container shipping

  197. Pingback: new sport socks

  198. Pingback: پنجره

  199. Pingback: پنجره دوجداره

  200. Pingback: scorpio male love horoscope

  201. Pingback: More Info

  202. Pingback: headhunter

  203. Pingback: دانلود فیلم دوبله شده

  204. Pingback: دانلود فیلم دوبله شده

  205. Pingback: music

  206. Pingback: real caller app

  207. Pingback: 70% OFF Canada Goose

  208. Pingback: Car seat cover

  209. Pingback: Vancouver Limo Services

  210. Pingback: SkinAlley

  211. Pingback: child abuse registry check

  212. Pingback: dealfeed

  213. Pingback: Schluesseldienst Koeln

  214. Pingback: Bandar Judi Bola Selalu Online

  215. Pingback: Penggemar Olahraga

  216. Pingback: mobile webcams

  217. Pingback: porn movie

  218. Pingback: دانلود موزیک

  219. Pingback: دانلود فیلم نهنگ عنبر 2

  220. Pingback: Judi Bola Bikin Kaya

  221. Pingback: link98

  222. Pingback: Google new cheat hacklinks

  223. Pingback: Oddsmonkey

  224. Pingback: Oddsmonkey

  225. Pingback: Oddsmonkey

  226. Pingback: chaos astrology free chart

  227. Pingback: clothes hangers

  228. Pingback: Oddsmonkey

  229. Pingback: Oddsmonkey

  230. Pingback: Oddsmonkey

  231. Pingback: Oddsmonkey

  232. Pingback: Oddsmonkey

  233. Pingback: zenofem reviews

  234. Pingback: eyevage

  235. Pingback: menoquil review

  236. Pingback: omega xl

  237. Pingback: www.consumerhealthdigest

  238. Pingback: marks and spencer promo codes

  239. Pingback: onecoin price chart

  240. Pingback: فیلم نهنگ عنبر

  241. Pingback: دانلود فیلم رگ خواب

  242. Pingback: baby shower gifts

  243. Pingback: Stroller canopy

  244. Pingback: Nursing cover

  245. Pingback: رگ خواب

  246. Pingback: Sell illegal backlinks

  247. Pingback:

  248. Pingback: news daily

  249. Pingback:

  250. Pingback: zobacz

  251. Pingback: recycle old computers

  252. Pingback: it disposal companies

  253. Pingback: xxx tube sex

  254. Pingback: Laptop Recycling wokingham

  255. Pingback: Yahoo Finance

  256. Pingback: Tu Aashiqui

  257. Pingback: multiple exposed babes fucking and sucking compilation pornmd mobile video

  258. Pingback: Peter Schatzberg Miami

  259. Pingback: libro de mierda

  260. Pingback: how to make boobs bigger

  261. Pingback: Schlüsseldienst

  262. Pingback: dental implants near me

  263. Pingback: porn city

  264. Pingback: programas de ventas gratis

  265. Pingback: pirater un compte facebook

  266. Pingback: cheap viagra online

  267. Pingback: aer conditionat bucuresti

  268. Pingback: wedding gifts

  269. Pingback: google cheat free

  270. Pingback: hacklinks

  271. Pingback: progressive auto

  272. Pingback: eico insurance

  273. Pingback: Home & Garden

  274. Pingback: cheap michael kors

  275. Pingback: prezzi e bike

  276. Pingback: game ceme online

  277. Pingback: Mathematics

  278. Pingback: Pinganillo

  279. Pingback: matthew pillmore

  280. Pingback: anthony morrison

  281. Pingback: stainless steel coaster set

  282. Pingback: best free porn

  283. Pingback: best porn site

  284. Pingback: free porn sites

  285. Pingback: fidget spinner

  286. Pingback: porno

  287. Pingback: amateur porn sites

  288. Pingback: hotel winterberg zoover

  289. Pingback: Personalized Video From Santa Claus

  290. Pingback: pirater un compte facebook

  291. Pingback: bitcoin

  292. Pingback: get bigger breast

  293. Pingback:

  294. Pingback: nike air force 1 07

  295. Pingback: the last of us pc key generator download

  296. Pingback:

  297. Pingback: porn sites

  298. Pingback:

  299. Pingback:

  300. Pingback: homemade porn sites

  301. Pingback: hd porn sites

  302. Pingback: پنجره دوجداره

  303. Pingback: iphone 7 plus

  304. Pingback: Games Kizi

  305. Pingback: best porn site

  306. Pingback: australia

  307. Pingback: anxiety help

  308. Pingback: MOM SON PORN

  309. Pingback: walmartone

  310. Pingback: walmartone

  311. Pingback: walmartone

  312. Pingback: wedding gowns

  313. Pingback: cases & covers

  314. Pingback: walmart1

  315. Pingback: Click Here

  316. Pingback: view publisher site

  317. Pingback: important site

  318. Pingback: website link

  319. Pingback: my company

  320. Pingback: fake gucci shoes

  321. Pingback: excel tutorial

  322. Pingback: excel guide

  323. Pingback: Swaddle blanket

  324. Pingback: skin whitening

  325. Pingback: Darwin Horan

  326. Pingback: xxx porn

  327. Pingback: cheap dedicated servers

  328. Pingback: wedding dresses Toronto

  329. Pingback: دانلود فیلم آینه بغل

  330. Pingback:

  331. Pingback: heart rate monitors

  332. Pingback: bitcoin

  333. Pingback: Awesome Chrome Extensions 2018

  334. Pingback: word press

  335. Pingback: vermiculite

  336. Pingback: ร้านทำผม กรุงเทพ

  337. Pingback: electronic

  338. Pingback:

  339. Pingback: eget casino

  340. Pingback: affordable home insurance

  341. Pingback: Cheap Jordan Shoes

  342. Pingback:

  343. Pingback: read what he said

  344. Pingback: file chapter 7 chapter 7

  345. Pingback: Singapore Flower Delivery

  346. Pingback: typing software

  347. Pingback: Lotto Dominator Review

  348. Pingback: licensed moneylender

  349. Pingback: make millions with graphic design

  350. Pingback: licensed moneylender

  351. Pingback: cannabis oil for copd

  352. Pingback: דניאל ליליאב

  353. Pingback: medical marijuana cbd

  354. Pingback: cannabis oil with thc

  355. Pingback:

  356. Pingback: Auto insurance cost by state

  357. Pingback: Home insurance quotes

  358. Pingback:

  359. Pingback: jake burgess

  360. Pingback: pewność siebie

  361. Pingback: Los Angeles Escorts

  362. Pingback: PROGRESSIVE

  363. Pingback: Allstate quote home insurance

  364. Pingback: homeowners insurance through Usaa

  365. Pingback: geico quote auto insurance

  366. Pingback: relationship

  367. Pingback: شهرزاد 3

  368. Pingback: wedding dress

  369. Pingback: learn how to take phen375

  370. Pingback: Ray Ban Outlet

  371. Pingback: payday loans using debit cards

  372. Pingback: life insurance quotes for seniors

  373. Pingback: Best Pop Instrumental

Leave a Reply

Scroll To Top