Economy

July 12, 2012 12:00 AM

Wells Fargo pays $175 million to settle racial steering case

Wells Fargo Bank, the nation’s largest originator of mortgages, agreed Thursday to a $175 million settlement with the Justice Department, which alleged the bank steered minorities into more expensive subprime loans with higher interest rates when they qualified for lower ones.

Related content

Comments

Videos

More Videos

Obama lays a wreath at Hiroshima Peace Memorial Park 02:18

Obama lays a wreath at Hiroshima Peace Memorial Park

President Obama thanks military members in Hiroshima, Japan 07:43

President Obama thanks military members in Hiroshima, Japan

Donald Trump faces tough terrain in Washington state 00:46

Donald Trump faces tough terrain in Washington state

In Hiroshima, no expectation of apology from Obama 02:21

In Hiroshima, no expectation of apology from Obama

The Threat of Antibiotic Resistance 01:29

The Threat of Antibiotic Resistance

Young Bradenton entrepeneurs discuss government's role in the economy 02:02

Young Bradenton entrepeneurs discuss government's role in the economy

Visitors pay respects at Vietnam Veterans Memorial 01:15

Visitors pay respects at Vietnam Veterans Memorial

Americans agree, it's time for Obama to visit Hiroshima 02:27

Americans agree, it's time for Obama to visit Hiroshima

Florida 6th Grader Wins National Geographic Bee 00:39

Florida 6th Grader Wins National Geographic Bee

TSA Administrator says airport security problems will be fixed 04:09

TSA Administrator says airport security problems will be fixed

A look back at Obama’s visit to Vietnam 01:58

A look back at Obama’s visit to Vietnam

Share Video

Editor's Choice Videos