Wells Fargo Rejects Half of Black Applicants

When the federal government started outlining certain neighborhoods in the 1930's as risky for mortgage loans this prevented many black inner city residents from becoming homeowners. This act was given the name 'Redlining' as the federal government and lenders would draw a red line on a map around neighborhoods they would not invest in. Thankfully laws were passed to make this illegal, but loopholes are always available and we'll discuss one that Wells Fargo has been accused of decades later.