Wells Fargo Says DOJ Targeting Mortgage Origination Biz

Law360, New York (May 8, 2012, 2:41 PM EDT) -- The U.S. Department of Justice has told Wells Fargo & Co. that it believes it can bring civil claims and seek money damages over the bank’s mortgage origination practices, the bank said in a securities filing Tuesday.

The DOJ believes Wells Fargo’s practices may have violated fair lending laws, as well as other regulations, the bank said in its quarterly filing with the U.S. Securities and Exchange Commission.

“We believe such claims should not be brought and continue seeking to demonstrate to the Department of Justice...
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