Wells Fargo & Co. (NYSE:WFC) announced Tuesday the Office of the Comptroller of the Currency has downgraded the bank’s Community Reinvestment Act rating to “needs to improve” based on the results of its most recent performance evaluation. The OCC evaluates bank’s activities under the CRA, which was established in 1977 to encourage banks to meet the credit needs of all segments of communities, based on the institution’s capacity, business strategies, competitors and peers as well as the…