Government,
Banking
Aug. 2, 2018
DOJ, Wells Fargo settle on $2B penalty
Wells Fargo Bank NA agreed to a $2.09 billion civil penalty for its part in the 2008 financial crisis but left the door open for more litigation.
In a settlement with the U.S. Justice Department announced Wednesday, Wells Fargo Bank NA agreed to a $2.09 billion civil penalty but admitted no guilt in connection with the 2008 financial crisis and left the door open for ongoing litigation.
Attorneys from King & Spalding LLP helped the bank construct the settlement, which addresses violations of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989. As has ...
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