Former Wells Fargo Subprime Loan Officer: Bank Targeted Black Churches as Part of Predatory Subprime Lending Scheme

by via Democracy Now

Sat, Aug 29, 2009 7:46AM

Friday, August 28, 2009 :Up until two years ago, Elizabeth Jacobson was the top producing loan officer in the subprime division at Wells Fargo. Today she is speaking out against the practices of her former company. Earlier this summer, she filed a sworn affidavit with a federal court in support of the city of Baltimore's lawsuit against Wells Fargo for pushing high-interest, subprime loans onto African Americans in Baltimore and the Maryland suburbs, leading hundreds into foreclosure.

Guest:

Elizabeth Jacobson, Former loan officer at a Maryland branch of Wells Fargo. In June of this year, she submitted an affidavit in support of a federal lawsuit by the city of Baltimore against Wells Fargo. She now works in foreclosure defense.

LISTEN ONLINE

For more information: http://www.democracynow.org/2009/8/28/form...

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