Bank worker advocacy group dings major US lenders for COVID-19 mortgage policies
U.S. Bancorp and Wells Fargo performed the worst for struggling U.S. mortgage borrowers at the height of the COVID-19 pandemic, according to a new analysis published Tuesday by an advocacy group for front-line bank employees.
The Committee for Better Banks examined consumer complaints and mortgage policies at a dozen large U.S. banks, and faulted them for wrongs such as posting inconsistent policies and withholding important refinancing information.
While U.S. Bank and Wells Fargo were deemed the worst offenders, Citigroup and Santander Bank scored highest in the committee’s analysis, with Fifth Third Bancorp coming in third.
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