Fighting a Sub-Prime Lender
E. Scott Reckard and Susan Anasagasti report in the Los Angeles Times on litigation against Wells Fargo regarding terms of a debt consolidation loan.
Wells Fargo is fighting a suit by the Cortazars and others challenging its lending practices. "The allegations in this particular lawsuit — that there's a pattern of deceptive behavior — are false," said Mary Trigg, spokeswoman for San Francisco-based Wells Fargo.Despite that contention, Wells Fargo has been targeted by the Assn. of Community Organizations for Reform Now, or ACORN, as one of the worst lenders in the country. ACORN, which is holding its national meeting at UCLA this weekend, based its finding on Wells Fargo's record of "subprime" lending, or loans to people who are considered high credit risks.
Stumble It!
Add your comment... (note that all comments are reviewed before they're published)