City of Philadelphia Files Lawsuit Against Wells Fargo
On May 15, 2017, the City of Philadelphia filed a federal lawsuit against Wells Fargo in the United States District Court for the Eastern District of Pennsylvania.
The lawsuit alleges that Wells Fargo engaged in racial discrimination in its lending practices that targeted minority borrowers. This violates The Fair Housing Act and damages the City of Philadelphia by lowering property values, reducing tax revenues, and necessitating additional city services. Click here for more information about the allegations against Wells Fargo.
Berger Montague-along with several other law firms-is representing the City of Philadelphia. Our firm recently won a significant victory in a similar case in the Supreme Court of the United States on behalf of the City of Miami.
Berger Montague’s team consists of Sherrie Savett, Sarah Schalman-Bergen, Patrick Madden, and Christina Black. The case is City of Philadelphia v. Wells Fargo & Co. et al.
The lawsuit has generated tremendous public interest and has been featured in the following publications:
- The Legal Intelligencer: “Phila. Sues Wells Fargo Over Alleged Discriminatory Lending”
- Law360: “Philadelphia Sues Wells Fargo Over Discriminatory Lending”
- Philly.com: “Philadelphia Sues Wells Fargo for Discriminating Against African Americans; Bank Denies Allegations”
- The Washington Post: “Philadelphia Sues Wells Fargo for Allegedly Discriminating Against Minority Borrowers”
- The Philadelphia Sunday Sun: “City Files Lawsuit Against Wells Fargo for Discriminatory Lending; Suit Alleges the Bank Targeted Minority Borrowers With High-Cost Loans.”
- Philadelphia Business Journal: “City of Philadelphia Sues Wells Fargo; Bank Calls Claims ‘Unsubstantiated'”
- Phoenix Business Journal: “Wells Fargo Sued Over Loans to Black, Hispanic Customers”
- Charlotte Business Journal: “Philadelphia Sues Wells Fargo, Bank Says Claims ‘Unsubstantiated'”