national
Wells Fargo Faces Federal Regulatory Investigation Over Mortgage and Lending Practices
Just the facts
The regulatory probe examines the banking institution's internal lending practices, home loan approvals, and programs designed to expand access to credit for minority borrowers. Investigators are reviewing whether certain lending metrics or compliance procedures met federal anti-discrimination standards. Wells Fargo representatives stated that the bank is cooperating fully with the regulatory inquiries.
Why this is news
Federal regulators launched an investigation into Wells Fargo concerning race-based lending and efforts to boost Black homeownership.
Sources
This summary is compiled strictly from the original reporting below.