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HUD scrutinizes Wells Fargo mortgage programs aimed at Black homeownership
3 sourcesLeft-leaning 0Center 2Right-leaning 1
Summary
The Department of Housing and Urban Development under President Trump is examining Wells Fargo's lending programs intended to boost Black and minority homeownership, saying the race-based initiatives may violate the Fair Housing Act. Wells Fargo shares fell after the inquiry was reported. The bank has not commented publicly on the matter.
Center
- Wells Fargo Faces Regulator Probe Over Efforts to Boost Black HomeownershipWall Street Journal · Oct 7, 11:40 AM
- Wells Fargo faces potential probe over Black homeownership commitments, WSJ reportsReuters · Oct 7, 1:39 PM
Right-leaning
- Wells Fargo shares slide as HUD probes programs to boost black homeownership: ‘Immoral’ and ‘un-American’New York Post · Oct 7, 3:30 PM