$25B Foreclosure Deal Can't Save Wells Fargo From FCA Suit

Law360, New York (February 12, 2013, 10:26 PM EST) -- A Washington federal judge on Tuesday dealt a blow to Wells Fargo & Co. in a False Claims Act suit alleging the bank defrauded the Federal Housing Administration, ruling Wells Fargo's $25 billion settlement with the government over mortgage foreclosure abuses didn’t bar the government's fraud claims.

U.S. District Judge Rosemary M. Collyer denied Wells Fargo’s November bid to enforce the April 4 consent judgment finalizing the $25 billion settlement with several state attorneys general and other banks, finding the settlement only released it from government...
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