Wells Fargo Says US Mortgage Suit Violates $25B Settlement

Law360, New York (November 1, 2012, 5:14 PM EDT) -- Wells Fargo & Co. told a Washington federal judge Thursday that the federal government violated the terms of its $25 billion settlement with the bank and other mortgage servicers by suing Wells Fargo in October for allegedly defrauding a federal mortgage insurance program.

The bank asked U.S. District Judge Rosemary M. Collyer, who had overseen the $25 billion settlement, to enforce the terms of an April 4 consent judgment finalizing the pact, which included a $5 billion contribution from Wells Fargo. The settlement resolved allegations of...
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