Bank gives Indy $1.4M to settle housing complaint
A nationwide bank will hand out $1.4 million to settle allegations that it didn't treat foreclosed homes in African-American and Hispanic neighborhoods in central Indiana as well as it did similar properties in white enclaves.
Wells Fargo Bank says in a news release that it is paying a total of $27 million to the National Fair Housing Alliance and 13 of its member organizations, including the Fair Housing Center of Central Indiana.
The money will be used to fund grants for down payment assistance and renovation efforts in 19 cities still reeling from the foreclosure crisis.
The settlement results from a complaint that alleged Wells Fargo's properties in white neighborhoods were much better maintained and marketed than properties in minority areas.
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