The San Francisco-based firm is being investigated by the civil-rights unit of the Manhattan US attorney’s office, the New York Times reported on Thursday, citing people it didn’t identify who have knowledge of the matter. It isn’t clear what charges could result from such an inquiry, the newspaper wrote.
The probe is the latest potential blow to Wells Fargo’s public image. The bank has been dealing with a series of scandals and regulatory issues for years, and is operating under a growth cap imposed by the Federal Reserve. “No one should be put through an interview without a real chance of receiving an offer, period,” the firm said in the statement. “The diverse slate guidelines we put in place are meant to increase diverse representation across the company and we can see meaningful results in our hiring data since 2020.”