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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: THE ANT who wrote (142871)	8/2/2018 9:58:03 AM
From: Alex MG	Respond to of 218005

Trump admin says it's ok for corporate America to cheat their customers... small fine is all that's needed Wells Fargo & Co. (WFC) agreed to pay $2.09 billion to settle with the Justice Department over the sale of toxic mortgage-backed securities in the lead-up to the financial crisis. The Justice Department said Wells Fargo(WFC) failed to disclose the problems with stated-income loans -- mortgages for which it didn't verify income with supporting documentation -- and reported to investors "false debt-to-income ratios in connection with the loans it sold. But those banks are paying just a fraction of other large RMBS settlements under the Obama administration. In 2014, Bank of America Corp. agreed to pay $16.65 billion to settle RMBS claims, while Citigroup Inc. settled for $7 billion. JPMorgan Chase & Co. settled similar claims for $13 billion in 2013. Wells Fargo's (WFC) settlement doesn't include the billions of dollars in consumer relief that other lenders had to pay. Attorney General Jeff Sessions last year halted government settlements that required companies to contribute funds to third-party groups