The (alleged) predatory-lender Wells Fargo is having a - TopicsExpress

The (alleged) predatory-lender Wells Fargo is having a grand-opening today in Lake Grove. The Mayor is apparently happy they are here, he is attending the event there today. But let us not forget that predatory mortgage practices dont just hurt the individual homeowner - Cities take a financial-hit as well, due to lost Property tax revenue. In Los Angeles, the City Attorney there has filed a lawsuit against Wells Fargo, alleging they, ...were guilty of discriminatory lending since at least 2004. They are also suing over property tax revenue losses due to these practices. They estimate the loss in tax revenue, from 2008-2012, to be $481 million.

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