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Since 2000, Wells Fargo happens to be struck with over $11 billion in fines, charges, and settlement agreements with federal government agencies—including the Federal Reserve, the Department of Justice

Since 2000, Wells Fargo happens to be struck with over $11 billion in fines, charges, and settlement agreements with federal government agencies—including the Federal Reserve, the Department of Justice

the CFPB, the Department of Housing and Urban developing (HUD), Fannie Mae, as well as the workplace associated with the Comptroller regarding the Currency (OCC)—for violating a range that is wide of. These generally include falsifying earnings information about loan requests, steering black colored and Hispanic borrowers into costlier subprime mortgages with higher fees while white borrowers with comparable credit danger profiles received regular loans, recharging mortgage that is abusive charges, submitting false and deceptive court papers, processing illegal foreclosures, participating in home loan assessment and origination fraud, robo-signing mortgage papers, surpassing the 6 % rate of interest restriction for loans to people of the armed forces and neglecting to get a court purchase before repossessing their cars.