Wells Fargo Staffers Claim Anti-Latino Bias Fed Predatory Loans

Wells Fargo & Co. was sued by current and former members of its bilingual mortgage sales team who claim the company discriminated against both them and its Hispanic customers in a predatory lending scheme.

The complaint was filed Friday in federal court in San Antonio as a proposed class action on behalf of more than 20 Spanish-speaking mortgage sales consultants “of Hispanic ethnicity or from Mexico or other Central and South American countries.”

Wells Fargo directed its bilingual team to steer customers away from products with no closing costs toward “predatory lending options” without disclosing the costs, in part by ...