Wells Fargo accused of decade of misconduct in US mortgage fraud lawsuit
WASHINGTON (MCT) — Federal officials unleashed a series of legal assaults on the financial industry, targeting actions they said helped trigger the housing market collapse and then attempted to take advantage of desperate homeowners left in its wake.
The U.S. attorney's office in Manhattan accused Wells Fargo of defrauding a government-backed mortgage insurance program of hundreds of millions of dollars over more than a decade by improperly underwriting more than 100,000 home loans.
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