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News and Announcements

Lawsuit accuses Wells Fargo of denying student loans to young immigrants

Jan 30, 2017 / Media Coverage
A lawsuit filed Monday accuses banking giant Wells Fargo of illegally denying student loans to young immigrants who are protected from deportation and allowed to work and study in the U.S. under a program created by former President Obama. * * * The young immigrants are in the country illegally but have Social Security numbers and documents that meet bank requirements for identification, but Wells Fargo refuses to give them loans based on their citizenship status, according to the lawsuit, which was filed in U.S. District Court in the Northern District of California by the Los Angeles-based...
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Demandan a Wells Fargo por negar créditos a inmigrantes

Jan 30, 2017 / Media Coverage
El banco Wells Fargo fue acusado en una demanda federal de negar ilegalmente préstamos de estudiante a inmigrantes jóvenes que están amparados de la deportación y tienen permiso para trabajar y estudiar en Estados Unidos gracias a un programa instituido por el expresidente Barack Obama. Wells Fargo dijo en un comunicado que le decepcionaba que los demandantes presentaran una demanda en lugar de buscar una solución con el banco. Los inmigrantes jóvenes tienen números de Seguro Social y documentos que reúnen los requisitos que el banco pide sobre identificación; sin embargo, Wells Fargo les...
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‘Dreamer’ student sues Wells Fargo for discrimination

Jan 30, 2017 / Media Coverage
A college student and a Latino civil rights group sued Wells Fargo & Co. in federal court in San Francisco for allegedly denying student loans to young immigrants who have deportation deferments. The lawsuit claims the bank “outright refuses to extend loans to individuals who are not U.S. citizens or permanent residents.” It charges that the alleged policy violates federal civil rights law, California civil rights law and California’s unfair business practices law. The plaintiffs in the lawsuit are Mitzie Perez, a junior at the University of California, Riverside, and the California...
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MALDEF Sues Wells Fargo Over Loans to DACA Students

Jan 30, 2017 / Media Coverage
A Latino legal and civil rights organization is suing one of the nation's biggest lenders, alleging it denied loans to qualified applicants based on their immigration status. The Mexican American Legal Defense and Education Fund (MALDEF) and the law firm Outten & Golden LLP filed the federal lawsuit against Wells Fargo. In a press release announcing the lawsuit, MALDEF cited the case of Mitzie Perez, a third-year student at the University of California, Riverside. Perez successfully applied to the Obama administration's DACA program, which has allowed young immigrants without legal status...
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Wells Fargo accused of illegally denying student loans to immigrants

Jan 30, 2017 / Media Coverage
A federal lawsuit filed Monday accuses banking giant Wells Fargo of illegally denying student loans to young immigrants who are protected from deportation and allowed to work and study in the U.S. under a program created by former President Barack Obama. * * * The young immigrants have Social Security numbers and documents that meet bank requirements for identification, but Wells Fargo refuses to give them student loans based on their citizenship status, according to the lawsuit by the Los Angeles-based Mexican American Legal Defense and Educational Fund. "It's very important in our view to...
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MALDEF demanda a Wells Fargo por supuestamente negar préstamos a "soñadores"

Jan 30, 2017 / Media Coverage
El Fondo México Americano de Defensa Legal y Educación (MALDEF) demandó hoy a la entidad financiera Wells Fargo por supuestamente negar prestamos a solicitantes calificados indocumentados. La querella presentada hoy en una corte federal de San Francisco, alega que el banco violó las leyes que prohíben la discriminación en la prestación de servicios basada en el estatus migratorio de una persona. "Creemos que hay muchos inmigrantes afectados, especialmente aquellos favorecidos por DACA que ya tienen un número de Seguro Social y un permiso de trabajo válido", detalló a Efe Víctor Viramontes,...
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Claim accuses Wells Fargo of denying loans to young migrants

Jan 30, 2017 / Media Coverage
A federal lawsuit filed Monday accuses banking giant Wells Fargo of illegally denying student loans to young immigrants who are protected from deportation and allowed to work and study in the U.S. under a program created by former President Barack Obama. * * * The young immigrants have Social Security numbers and documents that meet bank requirements for identification, but Wells Fargo refuses to give them student loans based on their citizenship status, according to the lawsuit by the Los Angeles-based Mexican American Legal Defense and Educational Fund. "It's very important in our view to...
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Wells Fargo Sued For Barring DACA Recipients From Student Loans

Jan 30, 2017 / Media Coverage
After Mitzie Perez filled out a preliminary form online to inquire about a student loan from Wells Fargo last summer, a message flashed across the screen saying the bank had no options for her. “This could be due to the school you selected, your field of study, and/or your citizenship status,” the bank’s website said. The third-year bachelor’s student in gender and sexuality studies at the University of California, Riverside, didn’t think her citizenship status would be a problem. Though she’s undocumented, in 2012 she received work authorization under the Deferred Action for Childhood...
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MALDEF demanda a Wells Fargo por supuestamente negar préstamos a "soñadores"

Jan 30, 2017 / Media Coverage
Los Ángeles, 30 ene (EFEUSA).- El Fondo México Americano de Defensa Legal y Educación (MALDEF) demandó hoy a la entidad financiera Wells Fargo por supuestamente negar prestamos a solicitantes calificados indocumentados. La querella presentada hoy en una corte federal de San Francisco, alega que el banco violó las leyes que prohíben la discriminación en la prestación de servicios basada en el estatus migratorio de una persona. "Creemos que hay muchos inmigrantes afectados, especialmente aquellos favorecidos por DACA que ya tienen un número de Seguro Social y un permiso de trabajo válido",...
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2 more Wall Street banks send memos to staff in response to Trump's travel ban

Jan 30, 2017 / Media Coverage
Bank of America Merrill Lynch CEO Brian Moynihan and Wells Fargo's Chief Administrative Officer, Hope Hardison, on Monday joined their Wall Street peers in responding to President Donald Trump's immigration ban. Trump on Friday signed an executive order barring people from seven majority-Muslim countries — Iraq, Iran, Libya, Somalia, Sudan, Syria, and Yemen — from entering the US. The order originally included US green-card holders, but the White House later exempted them from the ban. * * * Here's Moynihan's message: "As a global company, we depend upon the diverse sources of talent that our...
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