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House’s Maxine Waters Urges Probe of Wells Fargo Over Bias (1)

June 29, 2022, 10:14 PM

Wells Fargo & Co. should face an investigation by US regulators into allegations that the San Francisco-based bank denied Black refinancing applicants and hosted mock interviews to fulfill diversity numbers, Congresswoman Maxine Waters said.

“Wells Fargo continues to display a troubling pattern of bad behavior with an inability to competently redress such patterns,” the House Financial Services Committee chairwoman said in a letter to regulators. Calls for comment to company representatives weren’t immediately returned.

The bank is already the target of a criminal investigation by the Manhattan US attorney’s office, the New York Times has reported. Current and former ...