Wells Fargo Said to Be in Talks With U.S. in Lending Probe
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Wells Fargo & Co., the biggest U.S. home lender, is negotiating with the Justice Department to resolve a probe of whether the lender directed blacks to subprime loans, a person familiar with the matter said.
The investigation is being conducted by the Justice Department’s Civil Rights Division and involves the lender’s actions during the housing bubble, said the person, who wasn’t authorized to speak publicly.