Philly accuses Wells Fargo of targeting minorities with high-cost mortgages

For more than a dozen years, Wells Fargo discriminated against African-Americans and Latinos by intentionally pushing them into higher-cost mortgages, according to a lawsuit filed by the city of Philadelphia. Wells Fargo's “longstanding” discriminatory practices in Philadelphia caused foreclosures to increase and resulted in the loss of vital tax revenue, the lawsuit argues. Foreclosure News

Middle-class minorities at risk to fall behind on student loans

Middle-class African-Americans and Hispanics are disproportionately falling behind on student loan payments, signaling that higher education is failing to ward off financial instability for minorities, according to newly released data. Researchers at the Washington Center for Equitable Growth analyzed delinquency rates, average loan balances and median income at a ZIP-code level and found higher numbers […]