StocksMediumUpdated•Originally published 7 October 2026•Updated 7 October 2026•
1 min read
Wells Fargo Faces HUD Probe Over Black Homeownership Programs
Key Facts
1The U.S. Department of Housing and Urban Development is investigating Wells Fargo's efforts to boost Black homeownership.
2The Trump administration is seeking to crack down on race-based lending as a potential violation of the Fair Housing Act.
The U.S. Department of Housing and Urban Development (HUD) has launched an investigation into Wells Fargo's programs designed to increase homeownership among Black borrowers. The Wall Street Journal reported that the probe is examining whether these targeted efforts, which stem from commitments made by the bank nearly a decade ago, violate the federal Fair Housing Act.
The investigation aligns with the Trump administration's broader efforts to crack down on race-based lending practices. WFC closed at $81.51 on October 6, 2026, while peer institutions JPM and BAC closed at $331.28 and $54.09, respectively, on the same date.