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December 31, 2009

Memphis Sues Wells Fargo over Mortgage Lending Practices
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In other business news, the city of Memphis, Tennessee has filed a
lawsuit against Wells Fargo for singling out black homeowners for
high-interest subprime mortgages. The lawsuit alleges “unlawful,
irresponsible, unfair, deceptive and discriminatory mortgage lending in
Memphis and Shelby County.” Similar lawsuits have already been filed
against Wells Fargo by the city of Baltimore and the state of Illinois.



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