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News and Announcements

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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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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