US Regulator Investigates Wells Fargo Over Race-Based Homeownership Programs

Wells Fargo is facing a US regulatory investigation into programs designed to increase Black homeownership, with authorities examining whether the initiatives violated fair-lending laws. The bank’s shares fell nearly 2% following news of the probe.

In 2017, Wells Fargo launched a campaign pledging $60 billion in loans aimed at helping create at least 250,000 new Black homeowners by 2027. By late 2023, the bank had reached about 40% of that target and refinanced roughly 5,100 customers.

Wells Fargo later removed a 2023 racial-equity assessment from its website. The Department of Housing and Urban Development is also reviewing similar initiatives at other financial institutions, indicating that the investigation could form part of a broader examination of race-focused lending programs.

Related Tweet:

Wells Fargo is facing an investigation by Trump’s Housing and Urban Development over programs to increase homeownership among Black Americans https://t.co/8wygJrDFZm

— WSJ Markets (@WSJmarkets) October 7, 2026

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tippinsightsTIPP Staff