Federal judges have dismissed two lawsuits that accused Wells Fargo of reverse-redlining in Los Angeles and Cook County, Ill., Reuters reported.
The city of Los Angeles had accused Wells Fargo of steering black and Hispanic borrowers into higher-cost mortgages, dating back to 2004, resulting in higher foreclosure rates and lower property tax collections.
U.S. District Judge Otis Wright said he
In the Cook County predatory-lending case, U.S. District Judge Gary Feinerman said the county was not authorized to pursue a claim under the Fair Housing Act.