Wells Fargo has resolved a lending discrimination complaint, which accused it of denying a mortgage loan after the bank found out it would be used to finance a group home for persons with disabilities.
Wells Fargo denied discriminating against the woman who brought the complaint; that person's name was redacted in the agreement released by the Department of Housing and Urban Development.
"It is understood that this agreement does not constitute an admission by the respondent of any violation of
Under the terms, Wells Fargo agreed to pay $125,000 to the woman who brought the complaint and to provide fair housing training for its employees, including home mortgage consultants, managers and underwriters. It will also ensure that its policies do not violate the Fair Housing Act. The agreement will govern Wells Fargo's conduct for a two-year period.
"Group homes for persons with disabilities are homes, just like any other, and mortgages may not be denied because individuals with disabilities will be living there," Jeanine Worden, HUD's acting assistant secretary for fair housing and equal opportunity, said in a press release.
The complaint was filed with HUD on April 1, 2020. It alleged the complainant was injured by Wells Fargo denying a home loan in 2019 based on disability, which is a violation of
"Wells Fargo is committed to financially empowering customers with disabilities — who represent vast backgrounds, experiences and cultures — and providing employment opportunities for people with disabilities. This community is part of the fabric of our company and this country," a statement from the company said. "While we have denied the claims of discrimination in the original complaint, we understand the concerns that were raised and that’s why we chose to work with HUD and the customer to reach an agreement that reflects the best interests of everyone involved."
