Litigation
Feb. 5, 2016
Wells Fargo to pay $1.2 billion to settle government claims
Wells Fargo & Co. announced Wednesday it planned to pay $1.2 billion in order to settle claims brought by the U.S. Department of Justice, which accuses the company of mortgage fraud that contributed to the 2008 financial crisis.
Daily Journal Staff Writer
San Francisco-based Wells Fargo & Co. announced Wednesday it planned to pay $1.2 billion in order to settle claims brought by the U.S. Department of Justice, which accuses the company of mortgage fraud that contributed to the 2008 financial crisis.
The lawsuit was filed in 2012 and claims Wells Fargo employees underwrote and created mortgages that were insured by the gov...
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