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HUD Investigates Wells Fargo's Race-Targeted Home Loan Programs
The Department of Housing and Urban Development has opened an investigation into Wells Fargo over home lending programs that the bank offered to minority borrowers. The inquiry targets initiatives designed to expand homeownership among racial minorities, which critics argue amount to racial discrimination in lending. The case is fueling debate over race-conscious lending programs, with supporters calling them corrective measures for historical inequities and opponents viewing them as unlawful.
Why now: Federal scrutiny of race-based lending practices is a flashpoint in the wider political fight over diversity and equity programs.
Wells FargoDepartment of Housing and Urban DevelopmentHUD
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