August 3, 2018 / 8:39 PM / in 3 months

Wells Fargo faces probes over low-income housing tax credits -filing

NEW YORK, Aug 3 (Reuters) - Multiple U.S. agencies are probing Wells Fargo & Co's use of low-income housing tax credits, the bank said in a regulatory filing on Friday.

The inquiries focus on how Wells Fargo purchased or negotiated the purchase of those credits in connection with its financing of low-income housing developments, according to its 10-Q filing with the U.S. Securities and Exchange Commission. Wells Fargo did not disclose the agencies conducting the probes. (Reporting by Lauren Tara LaCapra; Editing by Meredith Mazzilli)

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