Oct 7 (Reuters) – The Donald Trump administration’s housing officials are launching a probe into Wells Fargo over programs and commitments the bank made nearly a decade ago to increase homeownership among Black Americans, the Wall Street Journal reported on Wednesday.
The Journal cited a letter from the Department of Housing and Urban Development sent to Wells CEO Charlie Scharf on Wednesday, which reportedly said the body would examine whether the bank violated fair-lending laws by favoring Black or other minority homeowners.
Reuters could not independently verify the report. Wells Fargo declined to comment, while the Department of Housing did not immediately respond.
(Reporting by Utkarsh Shetti in Bengaluru; Editing by Joyjeet Das)
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