The situation generated a primary scandal, while the bank’s Ceo John Stumpf try denounced within the a beneficial Senate hearing right after which one in our home
In the Justice Company established that Wells Fargo create spend $1.dos million to resolve allegations that the lender official toward Agencies regarding Housing and you will Urban Innovation this 1 home-based mortgage loan funds was basically qualified to receive Federal Houses Administration insurance policies after they have been not, evoking the regulators having to pay FHA insurance coverage says when one of those fund defaulted. (more…)