Mar
28
Citing Misdeeds, U.S. Gives Wells Fargo Failing Grade on Lending
By
A Wells Fargo branch in New York. The bank has received a “needs to improve” rating based on a law meant to promote lending in low-income neighborhoods. CreditVictor J. Blue/Bloomberg
In the latest blow to Wells Fargo’s efforts to rebuild its reputation after months of turmoil, the bank on Tuesday received a failing score on community lending from its federal regulator.
Wells Fargo was given a “needs to improve” rating on its latest evaluation under the Community Reinvestment Act, a 1977 law intended to promote lending in low-income neighborhoods…
Citing Misdeeds, U.S. Gives Wells Fargo Failing Grade on Lending
