Relevant:
- Manhattan U.S. Attorney Files Mortgage Fraud Lawsuit Against Wells Fargo Bank, N.A. Seeking Hundreds Of Millions Of Dollars In Damages For Fraudulently Certified Loans
- Wells Fargo Settles Discriminatory Lending Suit, Pays Tennessee Towns Memphis, Shelby $432 Million
- Cynicism aside, why the NY AG's MBS suit vs JPMorgan matters
- Nonprofits' civil suit against Wells Fargo goes to jury: Bank's risky decisions harmed investors, plaintiffs say
- Allied Mortgage Hit with DOJ Suit, HUD Suspension
2012-10-09 — bloomberg.com
``"As the complaint alleges, yet another major bank has engaged in a longstanding and reckless trifecta of deficient training, deficient underwriting and deficient disclosure, all while relying on the convenient backstop of government insurance," Bharara said in the statement.
The suit undermines San Francisco-based Wells Fargo's reputation as a lender that avoided some of the industry's worst underwriting practices and threatens to compound the bank's costs as the government completes probes of the housing bubble's collapse. ''
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