Wells Fargo Fined $1.2 Billion For Mortgage Insurance Fraud

Wells Fargo to pay $1.2bn over mortgage insurance scam

The US bank was accused of improperly certifying government-backed home mortgage loans between 2001-2010.


The Justice Department argued Wells Fargo should not have certified the loans as eligible for the federal insurance scheme because it knew they did not meet the required standards for certification.

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