Wells Fargo Deal Doesn't Bar Mortgage Fraud Suit, US Says

Law360, New York (April 17, 2013, 7:09 PM EDT) -- Government lawyers on Wednesday defended a lawsuit in New York federal court claiming Wells Fargo Bank NA defrauded a federal mortgage insurance program, saying the bank’s previous settlement of similar government claims does not bar a new suit.

Wells Fargo, which in February 2012 agreed to $5.3 billion to settle a Department of Justice suit over its allegedly reckless mortgage lending practices, only bought freedom from certain legal claims, Assistant U.S. Attorney Jeffrey Stuart Oestericher argued at a hearing before U.S. District Judge Jesse M. Furman...
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