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Wells Fargo faces federal investigation into Black homeownership promotion program

WSJ +3 ·

WFC Wells Fargo & Co
$80.26 -1.53%
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  1. 1The U.S. Department of Housing and Urban Development is investigating Wells Fargo regarding its program to promote Black homeownership.
  2. 2Wells Fargo shares fell 2.2% on Wednesday, hitting an intraday low.
  3. 3The investigation targets a program related to $60 billion in Wells Fargo loan commitments since 2017.

So what's the key point?

The U.S. government has begun investigating Wells Fargo, which operates a program to help Black individuals purchase homes. Following this news, Wells Fargo's stock price fell 2.2%.

Source WSJ +3 · View original ↗

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