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Wells Fargo to pay U.S. $108 million over veterans' loans
August 4, 2017 11:09 AM EDTBy Jonathan Stempel
(Reuters) - Wells Fargo & Co (NYSE: WFC) will pay the U.S. government $108 million to settle a whistleblower lawsuit claiming it charged military veterans hidden fees to refinance their mortgages, and concealed the fees when applying for federal loan guarantees.
The third-largest U.S. bank on Friday said the accord resolved claims that its Interest Rate Reduction Refinance Loans should have been ineligible for guarantees under a U.S. Department of Veterans Affairs loan guaranty program.
Such claims were raised in a lawsuit filed in 2006 and made... More
