Trump says he'll be looking into banks regarding Los Angeles wildfires [View all]

Source: USA Today

April 24, 2026, 3:33 p.m. ET


WASHINGTON, April 24 (Reuters) - U.S. President Donald Trump said his administration would look into banks — singling out Wells Fargo WFC.N — over payments and debt treatment after the Los Angeles wildfires, marking the latest friction with the banking industry.

The 2025 Palisades Fire in Los Angeles and Eaton Fire in Altadena killed 22 people, destroyed some 12,000 homes and caused over $50 billion in property damage.

"Wells Fargo, in particular, has been very difficult to deal with," Trump said in a post on Truth Social late on Thursday. "The Banks must treat those people, who so horribly lost their Homes in this tragic fire, very fairly and well.". A spokesperson for Wells Fargo declined to comment.

Trump's second term has fueled friction with Wall Street, as allegations of "debanking" and exchanges over credit card rate caps have strained ties with executives at big banks despite a broader deregulatory push favoring the sector.

Read more: https://www.usatoday.com/story/news/california/2026/04/24/trump-looking-into-banks-after-los-angeles-wildfires/89777531007/