thu, apr 20, 2023 10:26 p.m.
civil rights in 2023: wells fargo illegally pauses its mortgage lending program to White applicants, prioritizing black and hispanic deadbeats, with a return to criminal, 2008 minority mortgage meltdown policies
https://vdare.com/posts/civil-rights-in-2023-wells-fargo-pauses-its-mortgage-lending-program-to-white-applicants-prioritizing-non-white-borrowers
https://www.msn.com/en-us/money/companies/wells-fargo-lays-off-dozens-of-des-moines-workers/vi-AA1a7lMU
https://www.linkedin.com/search/results/content/?keywords=wells%20fargo%20news&sid=rW-&update=urn%3Ali%3Afs_updateV2%3A(urn%3Ali%3Aactivity%3A7041850030600695809%2CBLENDED_SEARCH_FEED%2CEMPTY%2CDEFAULT%2Cfalse)
https://www.housingwire.com/articles/profits-up-production-volume-down-for-wells-fargo-jp-morgan-in-q1-23/
wells fargo to White America: no mortgages for you!
wells fargo to Non-White America: mortgages for you!
By Paul Kerseyjanuary 14, 2023
VDARE
wells fargo prioritizes lending to minorities, cuts back on mortgages: “We will continue to expand our programs to reach more customers in underserved communities by leveraging our strong partnerships with the national urban league, unidos us, and other non-profit organizations,” Post Millennial, january 12, 2023
Banking giant wells fargo announced they are planning on reducing the size and scope of its mortgage lending business for all Americans and instead focus on “minority communities.”According to the new york post, wells fargo’s head of home lending and head of diverse segments, representation, and inclusion at wells fargo, Kristy Fercho, said, “We will continue to expand our programs to reach more customers in underserved communities by leveraging our strong partnerships with the national urban league, unidos us, and other non-profit organizations.”
According to the post, wells fargo’s specific goal will be to “expand its retail team by focusing on existing bank customers and underserved communities,’ ‘invest an additional $100 million to “advance racial equity in homeownership,” and “deploying additional home mortgage consultants in local minority communities.”
wells fargo will also allocate another $150 million to help “more black and Hispanic families achieve homeownership.”
wells fargo’s commitment to dei follows other major banking institutions such as bank of america, which started offering black and hispanic Americans exclusive zero down payment and zero closing cost mortgages for first-time home buyers in September.
wells fargo’s dei mortgage initiative comes as the federal reserve has started raising rates to combat inflation and stave off a recession.
In 2008, America entered the Great Recession, which was caused in part by the subprime mortgage lending crisis. Sub-prime lending originated in the Clinton administration when, in 1995, his work on the community reinvestment act pressured financial institutions to lend to low-income earners. Combined with a lack of oversight, especially former democrat congressman Barney Frank with fannie mae and freddie mac, contributed to the 2008 collapse of the housing market.
wells fargo was forced to pay $3 billion in 2016 in a scandal that revealed the bank had been opening fake accounts under customers’ names without their consent to give the impression they were meeting unattained sales goals.
Santos told cnbc, “We are acutely aware of wells fargo’s history since 2016 and the work we need to do to restore public confidence.”
Ladies and gentlemen, the following was presented to you by the civil rights act of 1964, which codified anti-Whiteness into law.
Diversity, Inclusion, Equity… Tolerance? It all adds up to eliminating White people from the new economy, built on supplanting and usurping white privilege.
N.S.: but wf’s pogram will be entirely financed by stealing money from White customers.
That CAN'T be profitable.Their stock should drop--if the story is true.
ReplyDelete--GRA
Sounds like back in 2008. Gave money to buy homes to all sorts of folks the money should have never been given to.
ReplyDeletejerry pdx
ReplyDelete2008 happened in large part due to loans being handed out to people "of color" who couldn't pay them back. Doesn't matter, government will step in and bail the banks out. They're counting on it already.
I used to have Washington Mutual as my bank. They expanded rapidly and made many loans--one story was they gave a mortgage to a Mexican with only a picture of him in his Mariachi costume to prove he was employed. Of course Washington Mutual went tits up. I wouldn't be surprised if the same thing happened to Wells Fargo. I would never put my money in Wells Fargo anyway--I remember some time ago Wells Fargo was opening accounts in their customer's names without asking permission or even telling them.
ReplyDeleteWells Fargo announced years ago that it was prioritizing hiring gays, long before the current mania. Corruption breeds corruption. -RM (PS- Dale Robertson is probably spinning in his grave)
ReplyDelete