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News and Announcements

Claim Accuses Wells Fargo of Denying Loans to Young Migrants

Jan 30, 2017 / Media Coverage
A federal lawsuit 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 suit filed Monday in San Francisco says the young immigrants in the country illegally have Social Security numbers and documents that meet banking requirements for identification. But it says Wells Fargo denies them loans based on their citizenship status. The suit seeks a court order declaring the policy discriminatory and forcing Wells Fargo to...
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Wells Fargo Sued For Discriminatory Lending Practices Against Certain Immigrants

Jan 30, 2017 / Press Release
SAN FRANCISCO, CA – Wells Fargo & Co. illegally denied qualified applicants, including a college student, loans because of their immigration status, according to a federal lawsuit filed Monday. The suit, brought by MALDEF (Mexican American Legal Defense and Educational Fund) and Outten & Golden LLP on behalf of a college student who was granted Deferred Action for Childhood Arrivals or DACA, and the California League of United Latin American Citizens, alleges Wells Fargo violated federal and state laws that prohibit discrimination based on alienage and immigration status. “All...
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