Wells Fargo accused of Financial Redlining

[ORDER_66]

Her credit score was bad tho

Wow really???

 

[Amerikan Melanin]

Black American fam white people would die where they stood if they had to live a day as a black person in this country. We get it every way possible.

 

[I Really Mean It]

Imagine how twisted your preoccupation with blackness is for you to implement a system that denies financial relief to complete strangers during a pandemic. And I’m supposed to give a single fukk about what’s happening to the Ukranians?

 

[SheWantTheD]

People say redlining was a thing of the past!

 

[Serious]

Her credit score was bad tho

I first saw it 4 years ago, so I didnt catch everything, that I caught now....

But there should other metrics that they consider. Because a lot of well capable black people have "bad credit" from things outside of their control...

Like having to take care of fam, suddenly. She did mention that she missed a payment and credit score dropped 50. I mean it happens. She repaid as soon as she knew her utility bill was late but she needed to dispute it.

I'm not completely fault the bank because of how the algo is setup, but there should be some other parameters setup in place because if someone has the income and has made some recent gains in their credit history then they should be able be given a better chance.


I mean the system is flawed when her gf making 162 a week can qualify for a mortgage loan, just because she has good or better credit. Meanwhile someone who can actually afford it, is denied because of past history. I know this is an oversimplification, because there's many factors into why she was denied and we don't know how bad the black ladies credit was or why.

 

[50CentStan]

Banking experience with WF was never good. Switched to chase been getting treated like a king ever since

 

[Gunz&Butta]

But when we talk about institutional racism and how it permeates every aspect of American life, they say it's Critical Race Theory.

We ain't sweeping shyt under the rug, if you don't like it, kill yourself

 

[pete clemenza]

F*ck Wells Fargo

 

[Ahadi]

Gotta invest in our black banks.

 

[JoelB]

WellsFargo had to settle for millions a few years ago for steering blacks and latinos into subprime loans even tho they were qualified. They are a predatory lender and black folk need to stop fukking with em.

In the bloomberg article, breh was a microsoft engineer with an 800 score...his wife was a doctor, and they couldnt refinance bc of the neighborhood they lived in Blatant redlining...but they juelzed and said they had more stringent underwriting criteria

Join local credit unions instead brehs

 

[BlackJesus]

Shooting Wells some bail...maybe those poor Whites had better Debt to Income ratios than higher earning Blacks.

It's not unfathomable.

So they had better debt to income than literally all the blacks in those neighborhoods?

 

[8WON6]

How does Wells Fargo even exist? Almost every scandal I've heard related to banking in the 21st century has involved Wells Fargo .

Bank of SCAMerica just as bad.

 

[Seoul Gleou]

wells fargo is a habitual line stepper

these motherfukkers will piss on your shoes and dare you to do something

and guess what, we do nothing but smile and give them money and borrow from them

 

[The Fade]

Same bank that came up with "Mudloans" what do you expect

 

[Geode]

WellsFargo had to settle for millions a few years ago for steering blacks and latinos into subprime loans even tho they were qualified. They are a predatory lender and black folk need to stop fukking with em.

In the bloomberg article, breh was a microsoft engineer with an 800 score...his wife was a doctor, and they couldnt refinance bc of the neighborhood they lived in Blatant redlining...but they juelzed and said they had more stringent underwriting criteria

Join local credit unions instead brehs

I'm dealing with something like this now. About to file a complaint with the CFPB and the state equivalent.