Wells Fargo Agrees To Pay $2.09 BIllion Penalty For Mortgage Loan Abuses

The Justice Department announced that embattled Wells Fargo, which has seen its name feature in virtually every prominent banking scandal in the past year, will pay a civil penalty of $2.09 billion under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) based on the bank's alleged origination and sale of residential mortgage loans that it knew contained misstated income information and did not meet the quality that Wells Fargo represented....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2KhQ2VP
via IFTTT