President Donald Trump stated he would look into the actions of banks of their response to final yr’s devastating Los Angeles wildfires following a gathering with that metropolis’s mayor, Karen Bass.
Trump stated he met with Bass and different officers to debate the “progress made on the horrific fires that ravaged Los Angeles, and the encompassing space,” and praised “Insurance coverage Firms” for the way in which “they had been treating the Residence Homeowners.”
Associated: California Wildfire Threat Payments Cruising By means of Legislature
“The Banks, nevertheless, have an extended approach to go, and we will likely be wanting into their actions, efficient instantly,” Trump stated in a social media publish on Thursday. “The Banks should deal with these individuals, who so horribly misplaced their Houses on this tragic fireplace, very pretty and properly.”
“Wells Fargo, particularly, has been very troublesome to cope with,” Trump stated, however he didn’t present extra particulars on what actions he meant to probe.
A consultant for Wells Fargo & Co. declined to remark.
A spokesperson for Los Angeles County Supervisor Kathryn Barger stated that “mortgage forbearance continues to be a significant challenge.”
In an earlier assertion, Bass and Barger stated that they had met with Trump and administration officers to “advocate for households who misplaced every part.”
“We had a really constructive dialogue about FEMA and different rebuilding funds in addition to the assist of the President to proceed becoming a member of us in pressuring the insurance coverage corporations to pay what they owe – and for the large banks to step as much as ease the monetary strain on L.A. households,” the assertion stated.
Associated: Public Curiosity Teams Backing California Householders Insurance coverage Payments
The president has been extremely crucial of California Democrats, notably Bass and Governor Gavin Newsom, accusing them of mismanaging the response and failing to do sufficient to assist those that misplaced their properties.
The fires in early 2025 burned for weeks, tearing by means of total neighborhoods within the Los Angeles space. Insured losses from the blazes totaled $40 billion, making them the most costly disaster on this planet final yr, in response to insurer Swiss Re AG.
Many who misplaced their properties are nonetheless ready for insurance coverage funds. Others with the funds have stated efforts to rebuild have been mired in pink tape.
Newsom in February introduced that 160 banks had provided mortgage aid to the wildfire victims for as much as 90 days — a interval which needs to be ending quickly for some lenders.
Prime photograph: Personal contractors take away particles from a house destroyed by the Eaton Fireplace in Altadena, California in 2025. Photographer: Kyle Grillot/Bloomberg.
Copyright 2026 Bloomberg.
Matters
Disaster
Pure Disasters
Wildfire
Louisiana
Inquisitive about Disaster?
Get automated alerts for this subject.
