HUD Investigates Wells Fargo For Housing Loan Discrimination HUD Secretary Scott Turner is investigating Wells Fargo over mortgage programs intended to expand Black homeownership—not simply because the bank is accused of denying home loans to Black applicants. The investigation raises a significant question about how the federal government interprets fair-housing law when financial institutions create programs intended to address racial disparities. On October 7, 2026, the U.S. Department of Housing and Urban Development (HUD) announced an investigation into Wells Fargo's initiatives to increase homeownership among Black Americans. HUD is examining whether those programs violated the federal Fair Housing Act by taking race into account in lending decisions. The investigation is ongoing; the announcement is not a finding that Wells Fargo violated the law. This pressure on the banking industry may results in an increase in home ownership for Blacks and other marginalized groups who ...