City Of Baltimore Revives "Ghetto Loans" Lawsuit Against Wells Fargo; Refines Reverse Redlining Allegations Against Lender

In Baltimore, Maryland, The Baltimore Sun reports:

• Lawyers for the city of Baltimore have prepared a new complaint in their reverse-redlining lawsuit against Wells Fargo, which alleges that the bank steered black borrowers into subprime loans and then foreclosed on hundreds of city houses, leading to blight and high public safety costs in low-income neighborhoods.

For more, see Baltimore city revives suit against Wells Fargo (New complaint sites specific damage to the city resulting from foreclosures).