foreclosure crisis

Wells Fargo's "Stage Coach From Hell" Loses Subprime Wheels

Late last night Wells Fargo [announced](http://dealbook.blogs.nytimes.com/2010/07/08/wells-fargo-plans-layoffs-at-a-consumer-finance-unit/) its plans to cut 3,800 jobs, close 638 of its Wells Fargo financial stores nationwide and officially stop handing out subprime loan packages. The move is a long time coming for a bank that’s been at the forefront of the subprime mortgage crisis for communities of color.