Wells Fargo says it faces a $1 billion penalty for its mortgage and auto business misdeeds

Categorized | STOP FORECLOSURE FRAUD

Wells Fargo says it faces a $1 billion penalty for its mortgage and auto business misdeeds

Wells Fargo says it faces a $1 billion penalty for its mortgage and auto business misdeeds

Pittsburgh-Post Gazette-

Wells Fargo said Friday that it faces a potential $1 billion in fines to resolve government investigations into the megabank’s behavior in the auto and mortgage markets.

The bank has acknowledged that it charged thousands of customers for auto insurance they didn’t need, driving some to default on their loans and lose their cars through repossession. The bank has also said it will refund customers who were charged improper fees to lock in an interest rate for a Wells Fargo mortgage.

Both matters have been under investigation for months by two federal regulators, the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency. Those regulators are offering to resolve the matter for a combined $1 billion, the bank said. Such a large civil penalty would be the latest hit to Wells Fargo’s effort to rebuild its image after more than a year of scandal.

[PITTSBURGH POST GAZETTE]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Comments

comments

This post was written by:

- who has written 8878 posts on FORECLOSURE FRAUD | by DinSFLA.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

Contact the author

One Response to “Wells Fargo says it faces a $1 billion penalty for its mortgage and auto business misdeeds”

  1. Charles Reed says:

    Hope this is including the mortgage loans that Wells Fargo had the Titles “Forged” and illegally foreclosed on our servicemembers and FHA borrowers! SEC Whistleblower claim TCR1328885716655

Trackbacks/Pingbacks


Leave a Reply

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Advertise your business on StopForeclosureFraud.com

Archives

Please Support Me!

All Of These Are Troll Comments