Prince George's, Montgomery Counties Sue Banks Over Mortgages to Minority Citizens - NBC4 Washington

Tracee Wilkins and the News4 team covering where you live

Prince George's, Montgomery Counties Sue Banks Over Mortgages to Minority Citizens

Wells Fargo and Bank of America said the allegations are meritless

    processing...

    NEWSLETTERS

    The Real Truth About Organ Donation
    Getty Images
    File photos of a Wells Fargo bank (left) and a Bank of America (right).

    Maryland's two biggest counties are suing two major banks over alleged predatory and discriminatory mortgage practices.

    The Daily Record reports that Montgomery and Prince George's counties accused Wells Fargo and Bank of America in a recently filed federal lawsuit of exploiting minority borrowers.

    The counties said the banks have for several years been pushing minorities toward expensive and riskier types of mortgages.

    The counties said the banks' approach has contributed to higher foreclosure rates among minorities and is hurting the counties' finances.

    PGCPS Librarian Retires After Admitting to Using Racial Slur

    [DC] PGCPS Librarian Retires After Admitting to Using Racial Slur

    A Prince George's County Public Schools Librarian announced her retirement Tuesday weeks after a viral video shows her admitting to using a racial slur. News4's Tracee Wilkins reports.

    (Published Tuesday, Nov. 20, 2018)

    The two banks and subsidiaries doled out more than 153,000 predatory or discriminatory loans, the counties' suit alleges.

    The banks said the allegations are meritless.

    Watch NBC4 and get the latest news anytime, anywhere. Check here for TV listings.