Wells Fargo agreed to pay $175 million to settle allegations that it charged minority borrowers higher interest rates and fees on home loans than it charged white borrower with similar credit ratings. The Justice Department says the bank engaged in a pattern of “systemic discrimination” against some 30,000 borrowers across 36 states. For example, a black borrower in Chicago paid an average of nearly $3,000 more in fees that a white applicant with the same credit rating. Wells Fargo admits no wrongdoing and said it only settle the matter to avoid further litigation. The bank will use $125 million to compensate affected borrowers. The remaining $50 million will be used to help residents in eight metropolitan areas’ minority communities make down payments or improve their homes.