Wells Fargo settles discrimination suit

Wells Fargo agreed to pay $175 million to settle allegations that it discriminated against minority borrowers.

The bank is accused of charging African American and Hispanic borrowers more in fees or pushing them into costly sub-prime loans. 

The justice department says more than 30,000 borrowers were affected between 2004 and 2009.

Wells Fargo denies the accusations.  It says it has agreed to settle the case to avoid going to court.

The settlement is still subject to court approval.