Wells Fargo To Pay $2.1 Bln Fine To Settle US Mortgage Probe: DOJ
Umer Jamshaid Published August 02, 2018 | 01:57 AM
New York, Aug 1 (APP - UrduPoint / Pakistan Point News - 1st Aug, 2018 ) :Wells Fargo will pay $2.1 billion to settle US charges it misrepresented the quality of home loans used in securities that led to 2008 financial crisis, the Justice Department announced Wednesday.
Wells Fargo originated and sold mortgage loans that it knew contained incorrect income information, warranting a civil penalty, the Justice Department said in a statement. Wells Fargo agreed to settle the charges without admitting liability, the government said.
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