Trump administration housing officials are investigating Wells Fargo's programs to increase homeownership among Black Americans and other minority groups. The Department of Housing and Urban Development told Wells Fargo Chief Executive Charlie Scharf it was examining potential fair-lending violations stemming from whether the bank favored Black or other minority homeowners. The inquiry focuses on a 2017 pledge to provide $60 billion in loans to help add at least 250,000 Black homeowners by 2027, as well as a 2022 refinancing initiative for minority homeowners. Wells Fargo had completed about 40% of the original lending commitment and refinanced roughly 5,100 customers when it commissioned a racial-equity assessment in late 2023. Shares fell as much as 2.2% before recovering to trade down 1.6%.