Written by The Business Journal Staff
(AP) — A federal lawsuit accuses banking giant Wells Fargo of illegally denying student loans to young immigrants who are protected from deportation and allowed to work and study in the U.S. under a program created by former President Barack Obama.
The suit filed Monday in San Francisco says the young immigrants in the country illegally have Social Security numbers and documents that meet banking requirements for identification. But it says Wells Fargo denies them loans based on their citizenship status.
The suit seeks a court order declaring the policy discriminatory and forcing Wells Fargo to grant the loans. It also seeks unspecified monetary damages.
Wells Fargo said in a statement that it was disappointed the plaintiffs didn’t work with the bank on a solution rather than sue.