Wells Fargo prioritizes lending to minorities, cuts back on mortgages

Jan 12, 2023 | Political News

Banking giant Wells Fargo announced they are planning on reducing the size and scope of its mortgage lending business for all Americans and instead focus on “minority communities.”

According to the New York Post, Wells Fargo's Head of Home Lending and Head of Diverse Segments, Representation, and Inclusion at Wells Fargo, Kristy Fercho, said, “We will continue to expand our programs to reach more customers in underserved communities by leveraging our strong partnerships with the National Urban League, Unidos US, and other non-profit organizations.”