Banking Policy

U.S. Suing Wells Fargo for Mortgage Fraud

Article image

The U.S. government is filing a complaint in a Manhattan federal court Tuesday against the largest US bank, Wells Fargo & Co., for alleged fraud. According to Bloomberg, which broke the newsU.S. Attorney Preet Bharara in Manhattan said in a statement that the government seeks damages and civil penalties for misconduct spread out over a decade related to the San Francisco bank’s participation in a Federal Housing Administration program.

Read it at Salon


Get Email Alerts from NationofChange