Sauder Schelkopf is investigating a potential class action on behalf of Black homeowners related to Wells Fargo refinancing practices.
Bloomberg reported, in part, on March 11, 2022
Nationwide, only 47% of Black homeowners who completed a refinance application with Wells Fargo in 2020 were approved, compared with 72% of White homeowners, according to a Bloomberg News analysis of federal mortgage data. While Black applicants had lower approval rates than White ones at all major lenders, the data show, Wells Fargo had the biggest disparity and was alone in rejecting more Black homeowners than it accepted.
Experience Matters
Sauder Schelkopf is a nationally recognized class action and personal injury law firm. The firm’s partners currently serve as court-appointed lead counsel in courts across the country and have been selected by the National Trial Lawyers Association as some of the Top 100 Trial Lawyers in Pennsylvania since 2012. The attorneys at Sauder Schelkopf have recovered over $500 million on behalf of their clients and class members.
We Want to Hear from You
If you are a Black homeowner whose refinance application was denied by Wells Fargo, please contact us.