Fmr Wells Fargo Subprime Loan Officer: Bank Targeted Black Churches for Subprime Loans 1 of 2

[democracy1st]

Run time: 10:06 https://www.youtube.com/watch?v=SA0f6jvFE0g   Posted on YouTube: August 28, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: August 29, 2009 By DU Member: democracy1st Views on DU: 568

 
Up until two years ago, Elizabeth Jacobson was the top producing loan officer in the subprime division at Wells Fargo. Today she is speaking out against the practices of her former company. Earlier this summer, she filed a sworn affidavit with a federal court in support of the city of Baltimores lawsuit against Wells Fargo for pushing high-interest, subprime loans onto African Americans in Baltimore and the Maryland suburbs, leading hundreds into foreclosure.


Fmr Wells Fargo Subprime Loan Officer: Bank Targeted Black Churches for Subprime Loans 2 of 2

http://www.youtube.com/watch?v=q2dzTlf4v7o

[MadMaddie]

1. Wells Fargo referred to these type of Loans as "Ghetto Loans"

I hope they fail as a business and go bankrupt.

[defendandprotect]

2. The government knew what was going on and certainly didn't try to stop it or

protect these communities --