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Press Release: “Dreams Denied” in North Carolina: New Study Finds Troubling Pattern of Racial Disparities in Wells Fargo’s Mortgage Lending
Wells Fargo’s mortgage lending patterns demonstrate significant racial disparities in Charlotte and across North Carolina, according to a new report released by Americans for Financial Reform Education Fund, North Carolina United Power for Action/NC Industrial Areas Foundation, Organized Power in…
The Latest from AFR
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Dreams Denied: Wells Fargo’s Troubling Pattern of Racial Disparities in North Carolina
Study finds that Wells Fargo’s pattern of racial disparities in applications and loans suggests it underserved North Carolina communities of color and focused on upper-income white communities.
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AFR in the News
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American Banker: Banks assail nonbank oversight in CFPB deregulatory push
Tom Feltner, associate director of consumer policy at Americans for Financial Reform and a former policy fellow in consumer engagement at the CFPB, said the five-year plan is more akin to “a statement of values,” from the Trump administration. He called the plan “performative,” and suggested that the real strategic plan for the CFPB came…
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The Charlotte Observer: Wells Fargo mortgage denials higher for minorities in Charlotte, new report claims
The Americans for Financial Reform’s Education Fund released its study, “Dreams Denied: Wells Fargo’s Troubling Pattern of Racial Disparities in North Carolina Mortgage Lending,” on Wednesday.
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Hoodline: Wells Fargo’s Charlotte Mortgage Rejections Put Bank In Racial Bias Hot Seat
Americans for Financial Reform Education Fund is asking bank regulators, city officials and public partners to scrutinize Wells Fargo’s track record and consider responses that could range from audits of its underwriting systems to rethinking public contracts with the bank. Community groups say the findings make the case for tougher, more consistent fair-lending enforcement.
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Private Credit Questions Pension Trustees Should Be Asking Now
This is a resource for institutional investors, including pension trustees, seeking to better understand what recent turmoil in private credit could mean for their portfolios.
