Black-owned banks received a wave of investment after George Floyd’s murder. That investment helped those lenders make more loans than they could have otherwise.
The lawsuit alleged that, in the early days of the pandemic, Wells Fargo put hundreds of thousands of mortgages into forbearance — sometimes without the borrowers even knowing it or asking for it.
On Friday, Bank of America, Citigroup, Wells Fargo and JPMorgan Chase will post earning reports. Parts of their business struggled in the fourth quarter.