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The complaint, By Rick Rothacker and Aruna Viswanatha The U.S. government filed a civil mortgage fraud lawsuit on Tuesday against Wells Fargo & Co (WFC), the latest legal volley against big banks ...
Wells Fargo. Total settlement: $3.7 billion. Deadline to file: Undisclosed. Requirements: Must have been a Wells Fargo client with an active banking account, mortgage or auto loan between 2011 and ...
Wells Fargo & Co. (NYSE: WFC) is under pressure on yet one more case against it from the financial crisis. The Manhattan U.S. Attorney's office has filed a mortgage fraud lawsuit against Wells ...
On February 9, 2012, it was announced that the five largest mortgage servicers (Ally/GMAC, Bank of America, Citi, JPMorgan Chase, and Wells Fargo) agreed to a historic settlement with the federal government and 49 states. [38]
Collateral Protection Insurance, or CPI, insures property held as collateral for loans made by lending institutions. CPI, also known as force-placed insurance and lender placed insurance, [1] may be classified as single-interest insurance if it protects the interest of the lender, a single party, or as dual-interest insurance coverage if it protects the interest of both the lender and the ...
The behind-the-scenes actions by regulators at Wells Fargo, which hadn’t been reported before, happened in the months before the company announced it was reining in its mortgage business. One ...
Wells Fargo for instance partnered with churches in black communities, where the pastor would deliver "wealth building" seminars in their sermons, and the bank would make a donation to the church in return for every new mortgage application. There was pressure on both sides, as working-class blacks wanted a part of the nation's home-owning trend.
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