Cotchett, Pitre & McCarthy Announces Federal Court Grants Final Approval of “Historic” Discrimination Settlement with Wells Fargo
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Cotchett, Pitre & McCarthy announced that a federal court has granted final approval for a $110 million discrimination settlement with Wells Fargo. The settlement resolves a shareholder lawsuit alleging discriminatory hiring and lending practices. It includes a $100 million Borrower Assistance Fund for low-income borrowers and $10 million from the Board's insurers. Judge Trina Thompson praised the settlement as a model for the banking industry, emphasizing the importance of transparency and accountability in rebuilding trust with marginalized communities.
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