Wells Fargo Plans to Focus More on “Minority Communities”in Its Mortgage Lending Projects
Jose Nino
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Wells Fargo recently announced its plan to reduce the size of its mortgage lending business. Joshua Young of The Post Millennial noted that the banking titan will “instead focus on ‘minority communities.’”
Per a report by the New York Post, Wells Fargo’s Head of Home Lending and Head of Diverse Segments, Representation, and Inclusion at Wells Fargo, Kristy Fercho, stated, “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.”
“We also will hire additional mortgage consultants in communities of color,” Fercho continued.
Wells Fargo CEO of Consumer Lending, Kleber Santos, announced in a press release, “We are making the decision to continue to reduce risk in the mortgage business by reducing its size and narrowing its focus.”
According to the New York Post report, Wells Fargo’s goal will be to specifically “Expand its retail team by focusing on existing bank customers and underserved communities.” In addition, it will “Invest an additional $100 million to ‘advance racial equity in homeownership,'”, while also “deploying additional Home Mortgage Consultants in local minority communities.”
In addition, Wells Fargo plans on allocating $150 million to assist “more black and Hispanic families achieve homeownership.”
Wells Fargo’s pro-DEI project is similar to that of Bank of America, which began to grant black and Hispanics exclusive zero down payment and zero closing cost mortgages for first-time home purchasers back in September.
It’s not just political actors who are pushing anti-white projects. Corporate entities such as Wells Fargo are helping advance this agenda whenever the state cannot always be counted to condition people into embracing anti-white sentiments. Compared to the state, the private sector is much more efficient and incredibly effective in propagating whatever narrative the ruling class needs to be spread far and wide.
This public-private partnership of anti-white hate is a dangerous beast that must be tamed. Proper right-wing movements would do everything possible to dismantle bureaucracies that promote anti-white hate and punish corporations who partake in this woke insanity.
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