Wells Fargo has announced a $60 billion lending commitment to create at least 250,000 African-American homeowners by 2027. The company’s commitment is a direct action to help address the lower homeownership rates in the African-American community and follows Wells Fargo’s boost of Hispanic homeownership rates in 2015. Wells Fargo’s commitment seeks to lend $60 billion to qualified African-American consumers for home purchases by 2027, increase the diversity of the Wells Fargo Home Lending sales team, and support the effort with $15 million for a variety of initiatives that promote financial education and counseling over the next 10 years. The company will work with the National Association of Real Estate Brokers, the National Association for the Advancement of Colored People and the National Urban League to provide homebuyer education and counseling to African-American homebuyers across the country.