June 16, 2020 / 9:28 PM / 23 days ago

Wells Fargo settles crisis-era Maryland mortgage bond probe for $20 million

Wells Fargo & Co will pay $20 million to resolve claims that it misled investors about the quality of loans underlying toxic mortgage-backed securities that were at the heart of the 2008 financial crisis, Maryland’s attorney general said Tuesday.

The settlement announced by Maryland Attorney General Brian Frosh, a Democrat, added to the billions of dollars that banks including Wells Fargo have been forced to pay as a result of crisis-era litigation and investigations over mortgage-backed securities.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2zCbEwQ

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