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Article: Baltimore clears hurdle in suit against Wells Fargo

Article from:
The Daily Record (Baltimore)
Article date:
July 6, 2009
Author:
Copyright

The city of Baltimore's mortgage-lending discrimination lawsuit against Wells Fargo Bank N.A. may proceed to what will be a "time consuming and expensive" discovery process, a federal judge ruled Thursday afternoon.

Chief U.S. District Judge Benson E. Legg rejected the bank's motion to dismiss the suit, four days after hearing arguments about the city's alleged damages.

The decision means the city will get access to more details about Wells Fargo's lending practices since 2000; it had previously relied solely on publicly available information and information from a few industry insiders.

The city claims the bank targeted black borrowers for subprime loans, a practice known as ...

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