Conservative Hardliner News

Conservative Hardliner News

Author Topic: Wells Fargo to pay $2B for misstating income information on mortgage loans  (Read 1265 times)

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Oh no not again!!

Wells Fargo will pay $2.09 billion to settle allegations that the bank offered residential mortgage loans based upon inaccurate income information, the Department of Justice announced on Wednesday.

“This settlement holds Wells Fargo accountable for actions that contributed to the financial crisis,” acting Associate Attorney General Jesse Panuccio said in a statement. “It sends a strong message that the Department is committed to protecting the nation’s economy and financial markets against fraud.”

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