A Black fintech home-improvement financing platform has announced a new $150 million home-improvement loan portfolio. TGUC Financial, Inc. aims to fix the broken home improvement market by providing loans to homeowners, contractors, and lenders. The platform uses AI on both the business and customer service sides, with human agents. It also matches homeowners with vetted contractors through SmartMatch. The $150 million home-improvement loan portfolio The new initiative will help underprivileged communities upgrade their homes. The capital base of a credit union and a Community Development Financial Institution collaboration seeks to provide capital
Wells Fargo & Co. is bracing for a crucial decision on whether a lawsuit concerning its mortgage denials to non-white applicants during the pandemic will attain class-action status, according to Bloomberg. This lawsuit, consolidating several claims, could become a high-profile and costly case for the bank. Key Allegations And The Class Action Motion The plaintiffs allege that Wells Fargo’s credit-scoring algorithm unfairly impacted minority applicants. They argue that all non-white applicants who applied for refinancing, home purchases, or home equity lines of credit from 2018 to 2022 were denied despite
