Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

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 ...