Pa. Treasurer Targets 3 Banks In Lending Disparity Probe

Law360 (February 23, 2018, 4:43 PM EST) -- The Pennsylvania Treasury has announced an official inquiry into Wells Fargo, Santander Bank and PNC Financial Services over alleged racial and ethnic disparities in home mortgage lending that have been identified in a recent report from the Center for Investigative Reporting.

The department on Wednesday sent a letter to all three financial institutions asking that they confirm whether the center’s numbers, which show black borrowers as three times more likely to be denied a home loan, were accurate, and to account for any racial or ethnic...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.