Wells Fargo hit with $2B penalty for misrepresenting quality of loans used in RMBS

By Jaclyn Jaeger2018-08-02T15:15:00

The Department of Justice on Aug. 1 announced that Wells Fargo and several of its affiliates will pay a $2.09 billion civil penalty based on the bank’s alleged origination and sale of residential mortgage loans that it knew contained misstated income information and did not meet the quality that Wells ...

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Embattled Wells Fargo CEO steps down

2019-03-28T16:53:00Z By Joe Mont

Wells Fargo announced Thursday that Chief Executive Officer and President Timothy Sloan intends to retire, effective June 30. He will step down as CEO, president, and board member effective immediately.
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2019-01-08T09:45:00Z By CW Staff

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Wells Fargo to pay $575M in 50-state settlement

2018-12-28T16:15:00Z By Jaclyn Jaeger

Wells Fargo reached a $575 million settlement to resolve civil claims with all 50 state Attorneys General and the District of Columbia that the bank violated state consumer protection laws.

“For tracking litigation, enforcement, and regulatory developments, Compliance Weekshould be your prime source.”

Wells Fargo hit with $2B penalty for misrepresenting quality of loans used in RMBS

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