Claim accuses Wells Fargo of denying loans to young migrants

Mitzie Perez, a plaintiff in a lawsuit against Wells Fargo, poses for a photo in Los Angeles, Monday, Jan. 30, 2017. Perez applied for a student loan from Wells Fargo online to help cover the costs of her education at the University of California, Riverside. She had a Social Security number, license and passport, but was not able to proceed with the loan application after she disclosed she was not a U.S. citizen or permanent resident. The suit comes amid concern among immigrant groups that President Donald Trump will cancel Obama's Deferred Action for Childhood Arrivals program as part of a broader effort to control immigration. (AP Photo/Richard Vogel)

By Associated Press January 30, 2017 3 min read

SAN FRANCISCO (AP) – A federal lawsuit on Monday accused 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.

Wells Fargo said it was disappointed the plaintiffs sued instead of working with the bank on a solution.

The young immigrants in the country illegally have Social Security numbers and documents that meet bank requirements for identification, but Wells Fargo refuses to give them loans based on their citizenship status, according to the lawsuit from the Los Angeles-based Mexican American Legal Defense and Educational Fund.

The loans, meanwhile, are available to U.S. citizens and permanent residents, the suit says.

It seeks a court order declaring the policy discriminatory and forcing Wells Fargo to grant the loans to those participating in the Deferred Action for Childhood Arrivals program. It also seeks unspecified monetary damages.