Interesting that Wells is purposely narrowing it’s business down to the two groups it consistently has had the most success in ripping off through the years, it’s own customers and minorities.
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The reason Wells is supporting these "minority communities" is that the leaders view them as inferior and in need of being "saved" by someone. If not, they would just focus on making sure they are being treated fairly. No handouts.
OK so now they are discriminating via marketing ? Go woke go broke.
That is not true. We will take loan applications from anyone. That is just where marketing focus will be.
Good thing I now identify as black and disabled. They can’t say no because I logged it in workday. If you question my race or pronoun, I will sue.
We’ll still find a way to sc--w it up and get fined. It’s an endless cycle with Wells Fargo.🤷🏻
The reason: These are guaranteed loans - backed by US government
It means - there is no risk of default to the bank.
Wells Fargo is not interested in any loan without a government guarantee (or extremely low probability of failure).
Paying record fine after record fine, year after year and getting name dragged in the mud (like a Wells Fargo Indian Exec "P"'ing on some old poor woman) - its an impossible bank to manage - the only game they got now is cutting everything, including their bread and butter - Mortgages.
They will not turn down anyone who wants a loan. Those are just the targeted customers.