Wells Fargo & Co has promised $432.5 million in lending and other payments to end a lawsuit accusing the bank of discriminatory lending practices in Memphis, Tennessee.

Memphis and Shelby County filed a lawsuit in 2010 against Wells Fargo, accusing the bank of targeting of African-American neighborhoods for predatory loans. The suit alleged the practice, which dated to 2000, resulted in excessive foreclosures in those neighborhoods.

Story length: 388 words

Access the full story here.