Trump HUD Opens Investigation Into Wells Fargo Programs Aimed at Boosting Black Homeownership

The Trump administration's Department of Housing and Urban Development has opened an investigation into Wells Fargo over bank programs designed to increase homeownership among Black Americans, according to reporting by The Wall Street Journal. HUD is targeting what it characterizes as race-based lending, arguing that such programs may constitute a violation of the Fair Housing Act.

The probe marks an escalation of the Trump administration's broader effort to crack down on race-conscious financial programs at major institutions. Wells Fargo, one of the largest U.S. mortgage lenders, has in recent years maintained initiatives aimed at narrowing the racial homeownership gap, and it now faces federal scrutiny over whether those programs improperly factor race into lending decisions. The bank has not publicly commented on the specifics of the investigation.