Wells Fargo disproportionately targeted minorities with high-cost mortgage loans in Cook County, leading to a foreclosure crisis in the area, according to a federal lawsuit filed Friday.
Senator Dick Durbin said today that some of the nation’s biggest banks are now offering what are essentially payday loans, with interest rates as high as 400-percent.
Hundreds of students at a Little Village school had big smiles on their faces on Thursday, after they all received a brand new winter coat.
Illinois Attorney General Lisa Madigan and the U.S. Department of Justice have reached a $175 million settlement with Wells Fargo on claims that the bank steered African-Americans and Latinos into risky subprime loans.
Wells Fargo bank will begin charging customers in five states a monthly fee to use debit cards. CBS 2’s Dorothy Tucker reports that could lead the way for banks in Illinois to try something similar.