“No one is above the law”. This statement emphasizes on the importance of respecting the law no matter social class level, wealth, race, position, or gender. Despite this, various businesses are known to indulge in citizen exploitation activities. In Philadelphia, a case study involving a bank named Wells Fargo is a perfect example of how businesses engage in illegal opportunistic practices. It also shows a positive side on how the law can be used to bring sanity and justice.
According to 1968 Fair Housing Act, Wells Fargo bank was accused of racially violating the Hispanic and black community citizens who make up the largest population in Philadelphia. This was through redlining the black and Hispanic communities through exploitation methods that made it hard for them to access loans/mortgages. The bank was also involved in fake account creation. It was also sued by Miami.
Wells Fargo Bank lured them into accessing very high-interest loans knowing very well they could not afford to pay them at the required time according to phillypurge.com. The residents were denied refinancing their house mortgages hence most lost their houses through foreclosure. This was a racial move as the white residents were not affected. This was evident through bank record check of about a decade. Thanks to the Fair Housing Act, various states can sue corrupt businesses by providing enough evident. This will enhance justice and sanity to citizens.
Like Karl Heideck on Facebook.
About Karl Heideck
With a great passion for seeing justice and achieving fairness to all, Karl Heideck is a renowned litigation attorney. With over ten years experience in the field of law, Karl Heideck presently works are related specifically to the banking arena and risk management related issues. He also indulges in. His expertise includes investigating liquidity related matters between clients and banks.
As a former English and Literature student, he also ventured in the School of Law and graduated in 2009. For over eight years, he has his office located in Pennsylvania’s Jenkintown. Karl Heideck owns his experience years ago as he was under the Pepper Hamilton LLP law firm that accommodated him as he participated in various laws related cases. Conrad O’Brien law firm contributed greatly to Karl Heideck growth and experience.
The society will greatly benefit from attorneys like Karl Heideck who also has experience in mortgage related issues including the one that happened in 2008.
Visit karlheideck.com for more information about Karl Heideck.