DENIED: An Assessment of Racial and Economic Disparities in Santander Bank’s Mortgage Lending

Santander Bank – one of the world’s largest banks – has invested billions of dollars in the past eight years in building a massive U.S. fleet; as part of this expansion, its U.S. mortgage lending operations have brought in over $560 million in the last five years, and Santander’s fee income increased to $1.2 billion last year. Yet, analysis of the bank’s Home Mortgage Lending Act data reported each year to federal regulators reveals a disturbing pattern of racial and economic discrimination in Santander’s home mortgage lending.



Big banks bailed out by U.S. taxpayers continue to aggressively push high interest credit cards and other unnecessary financial products on customers, according to a new report by the National Employment Law Project (NELP). Analysis of industry data, class action lawsuits and interviews with dozens of frontline bank workers reveal the unscrupulous tactics that Wells Fargo and other major U.S. banks are using to force predatory products onto customers.

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Big Banks and the Dismantling of the Middle Class

The finance industry now dominates the U.S. and global economy, generating one-third of total corporate profits in the United States. But rather than serving communities and reforming the practices that led to the Great Recession, the country’s top ten banks take in approximately $100 billion1 in annual profits, reward executives with exorbitant bonuses, and engage in unethical and sometimes illegal practices that keep the very taxpayers who bailed them out from getting ahead.


State of the Bank Employee on Wall Street

The findings of this report raise major concerns that this is the tale of two banking industries – one of high paid executives and the other of struggling regular workers.


Banking: The Human Crisis

Many banks and insurance companies have returned to profit in 2013. Large banks in particular are making vast profits, with senior employees paid more than 100 times the lowest paid employees. Meanwhile workers continue to lose their jobs or have great pressure and stress placed upon them through the pressure to sell.