- Wells Fargo is under investigation by the Department of Housing and Urban Development over alleged fair lending violations tied to favoring Black or other minority homeownership, according to The Wall Street Journal.
- Trump administration housing officials sent a letter to the bank, formalizing the review, per the report.
- The potential probe centers on Wells Fargo's Black homeownership commitments, putting the bank's community lending programs under federal scrutiny.
Quotes
“Wells Fargo (WFC) is facing an investigation by the Department of Housing and Urban Development over allegedly violating fair lending laws by favoring Black or other minority homeownership, The Wall Street Journal reported.”