Wells Fargo will pay $1.2 billion to refund the US agencies for wrongly certifying bad loans for federal home insurance ahead of the 2008 housing bust, the Department of Justice announced Friday.
The settlement resolves charges that Wells Fargo, a giant in the US mortgage lending, employed shoddy underwriting practices to drive up loan volume, leaving taxpayers to foot the bill when mortgages failed.
GMT 17:25 2017 Saturday ,29 AprilTurkey dismisses almost 4,000 public officials in new purge wave
GMT 17:24 2017 Saturday ,29 AprilMerkel says 'no one is allied' against Britain
GMT 16:00 2017 Saturday ,29 AprilEU needs 'serious British response' on citizens rights after Brexit
GMT 15:54 2017 Saturday ,29 AprilMerkel: 'no one is allied' against Britain
GMT 11:46 2017 Saturday ,29 AprilEU leaders 'unanimously' adopt Brexit guidelines
GMT 10:25 2017 Saturday ,29 AprilFrance's Hollande says Britain must pay price for Brexit
GMT 10:09 2017 Saturday ,29 April24 dead in Kyrgyz landslide: emergencies ministry
GMT 10:07 2017 Saturday ,29 AprilFrench candidate Le Pen announces eurosceptic PM pick, if elected