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At the heart of this legacy case are allegations that the bank approved problematic loans later contained in RMBS instruments that triggered the Great Recession.
The U.S. Justice Department reports that Wells Fargo Bank, N.A., the fourth largest in the U.S. by assets, and several of its affiliates will pay a civil penalty of $2.09 billion, “based on the bank’s alleged origination and sale of residential mortgage loans that it knew contained misstated income information and did not meet the...
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