Karl Heideck, an attorney, recently explained Philadelphia’s lawsuit against Wells Fargo. He explained the allegations in the complaint. He explained how Wells Fargo is being accused of steering black and Hispanic borrowers towards riskier loans that come with high interest rates. The attorney pointed out that Wells Fargo’s actions resulted in increased foreclosure rates in minority neighborhoods, which resulted in blight.
Karl Heideck went on to mention how there were ongoing problems for the banking giant. Besides the lawsuit from Philadelphia, the bank is still recovering from the accusations that it created fake customer accounts so associates at the bank would meet their sales goals. Not only that, but the lawsuit comes just after a few weeks that the court ruled that the city of Miami could sue Wells Fargo under the Fair Housing Act.
About Attorney Karl Heideck
Karl Heideck is an attorney based in the city of Philadelphia. His area of practice is in compliance, litigation and risk management review. Karl Heideck has been practicing law since 2010 and his experience is extensive. His experience includes areas of law such as corporate law, commercial litigation, civil litigation, product liability, legal writing, trials, appeals and intellectual property protection.
Karl Heideck currently works at Grant & Eisenhower PA. As one of the firm’s highly skilled attorneys, Karl Heideck performs work that involves review discovery for banking litigation that is extremely complex. He also reviews securities fraud cases with a strong focus on risk management, liquidity, transactions and acquisitions issues that relate to the 2008 mortgage crisis.
As for education, Heideck attended the Temple University Beasley School of Law. He graduated from the university in 2009 with a Juris Doctor degree. He also holds a Bachelor’s degree, which he earned from Swarthmore College in 2003. His Bachelor’s is in English language and literature.