US files suit against Wells Fargo
Oct 12, 2012
The complaint, brought by the U.S. Attorney in Manhattan, seeks damages and civil penalties from Wells Fargo for more than 10 years of alleged misconduct related to government-insured Federal Housing Administration loans.
The lawsuit alleges the FHA paid hundreds of millions of dollars on insurance claims on thousands of defaulted mortgages as a result of false certifications by Wells Fargo, the fourth-biggest U.S. bank as measured in assets.
The bank denied the allegations ....
No doubt this will end as the others have ended. The bank will pay a fine in exchange for not admitting that they did anything illegal.
Dr. Stephen Jones