It appears Wells Fargo is starting to reap what it sows. New York City announced on April 8 that it is refusing to open new accounts with the financial company after a Bloomberg News study showed that the bank rejected more than half of its Black applicants looking to refinance their homes in 2020
.City Council Member Justin Brannan, chair of the committee on finance, called the disparity “indefensible” and “outrageous” in a news release from the mayor’s office. "In a world where we already expect big banks to flout the law and make their own rules, Wells Fargo really outdid themselves,” he said. “Over the past two years – of all the major mortgage lenders – Wells Fargo was alone in rejecting more Black homeowners than it accepted. These brazen and illegal discriminatory actions have no place in New York City.”
Here’s an article with statements from her attorney, for those looking for a source beyond a twitter thread.
I know Wendy’s a controversial figure for a lot of reasons, but it’s important for people to look at the crime, not how “good” of a victim they are. #freebritney brought a lot of public attention to the abuse of conservatorship, but we need to keep that momentum for other victims, regardless of what you think of them. Nichele Nichols is another prominent case of this kind of financial abuse. We need to address how this system fails the mentally ill, the elderly, and women, particularly women of colour.
When you have a prominent victim whose respectability somehow justifies what’s happened to them in the public eye, that only further justifies similar abuses to the ordinary people in your life.
“..the bank has filed a guardianship petition for the appointment of an overseer of Williams’ assets.”
