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Wells Fargo Settles RMBS Case with Justice Department

August 8, 2018 by Louis Chunovic

Wells Fargo Settles RMBS Case with Justice Department

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… Read More >>

Filed Under: Derivatives Operations, Collateral & Margin Management, Derivatives Processing, Securities Operations, Clearing, Data Management, Industry News, Operational Risk, Ops Automation, Risk Management, General Interest, Governance, Diversity, Equity, and Inclusion (DEI), AML/Fraud/Financial Crime, Regulation & Compliance, Derivatives, Regulatory Compliance, Regulatory Reporting, Industry News Tagged With: civil penalty, DOJ, FIRREA, Jesse Panuccio, mortgage-backed securities, residential mortgage-backed securities (RMBS), RMBS, Tim Sloan, U.S. Justice Department, Wells Fargo

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