US Files Civil Mortgage Fraud Lawsuit Against Wells Fargo
Filed under: Bank of America, Citigroup, Wells Fargo & Co, Real Estate, Banking
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 for their lending during the housing boom.
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…
US Files Civil Mortgage Fraud Lawsuit Against Wells Fargo originally appeared on DailyFinance.com on 2012-10-09T16:55:00Z.
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