Philadelphia sues Wells Fargo, alleges predatory lending

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Philadelphia sues Wells Fargo, alleges predatory lending

Philadelphia sues Wells Fargo, alleges predatory lending

Reuters-

The City of Philadelphia sued Wells Fargo & Co on Monday, accusing the largest U.S. mortgage lender of predatory lending, which violates the federal Fair Housing Act.

The lawsuit came two weeks after the U.S. Supreme Court, in a case also involving Wells Fargo, said cities can sue lenders for alleged discrimination that causes many defaults by minority borrowers, and harms cities through lower property tax revenue and increased costs to combat crime and blight.

Philadelphia’s complaint adds to legal woes afflicting San Francisco-based Wells Fargo, which has since September been beset by a scandal over its employees’ creation of unauthorized customer accounts to meet sales goals.

[REUTERS]

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2 Responses to “Philadelphia sues Wells Fargo, alleges predatory lending”

  1. “Kareem Salessi 5-15-17”
    “Salessi_Weapons_of_Mass_Disclosure” (“Salessi_WMD”)

    Philadelphia is a great city, but very much destroyed by “US CRIME BANKS”.

    Philadelphia and other municipalities should also sue “Wells Fargo Drug Cartel” for having laundered $1/2-2 trillion drug money since at least ten years ago with the help of the USDOJ, plus a whole host of related claims.

    Municipalities should not wait for USDOJ to take any action against such drug cartels or any other “USA CRIME BANKS” destroying their neighborhoods, since USDOJ has been too busy aiding & abetting “USA CRIME BANKS” in their plunder of this country and foreign nations in the past two decades, through the “US FINANCIAL CRIMES INDUSTRY, falsely known as US FINANCIAL INDUSTRY”.

    A two-year proof of my above statement can be searched in these two annual reports of 2015 and 2016, of ?
    https://www.justice.gov/usao-cdca/annual-reports

    If you search for words like Bank, Mortgage, Lender, etc. you would come to the conclusion that “USDOJ and US courts work for US Crime Banks” which already plundered this country in excess of $30 trillion cash-heist, in addition to $1,000 trillion (page 29) of bogus MBS junk bonds dumped on the world, according to published numbers, just within 2008-2011 (3-4 years):

    $29,000,000,000,000: A Detailed Look at the Fed’s Bailout by Funding Facility
    and Recipient by James Felkerson University of Missouri–Kansas City

    http://www.levyinstitute.org/pubs/wp_698.pdf

    God only knows how much more is involved that the courts and USDOJ have been concealing from the public, with similar works as reported above, as red herrings to show that they are really doing something!

    More of my related documentation in this website comes up in GOOGLE: “Salessi WMD”

    Thanks for posting this comment.

    “Kareem Salessi 5/15/17”

  2. Charles Reed says:

    How do you get 1.3 million FHA, VA & USDA loans and not purchase the loans but your having law firm like the one representing you in the Holm v. Wells Fargo & Freddie Mac in the Kozeny & McCubbin law firm out of St. Louis that lost in the first round and appeal of a $3 million awarded by a judge in a $140,000 where neither Wells or Freddie could prove ownership on a property they foreclosed on.

    How is the FBI considering a forgery and theft of a home some kind of white collar crime that does not hurt anyone. How many military families have been hurt over 2009-2010 as they applied for Obama’s ghetto program in the HAMP & VA HAMP? All 50,000 that applied for this program that were in Ginnie Mae pool were illegally foreclosed! Thanks Obama a MF that did not have the balls to serve!

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