Wells Fargo hit with $1B fine for mortgage, auto lending abuses

(Reuters) - Wells Fargo & Co has agreed to pay $1 billion in penalties to federal regulators to settle a probe into abuses at its auto and mortgage businesses, the bank and regulators said on Friday, confirming an earlier Reuters report......»»

The bank agreed to a $1 billion settlement with federal regulators related to auto-loan and mortgage pract.....»»

The se.....»»

Wells Fargo may pay a $1 billion penalty for forcing customers into car insurance and charging mortgage borrowers unfair fees......»»

Richard Drew/AP Images The Consumer Financial Protection Bureau wants to fine Wells Fargo for lending abuses. The fine could reach a record $1 billio.....»»

Wells Fargo said Thursday that it will no longer accept new applications for home equity lines, signaling that the economic outlook is too cloudy even for one of the nation’s largest mortgage lenders. “Wells Fargo Home Lending will temporarily st.....»»

The fine comes as Wells Fargo struggles to repair its image after admitting to consumer abuses. The company reached a $3 billion settlement with the Justice Department and the SEC last week for opening millions of accounts without customers’ consent......»»

Two federal regulators are fining Wells Fargo $1 billion for forcing customers into car insurance and charging mortgage borrowers unfair fees......»»

Wells Fargo was fined $1 billion on F.....»»

(Reuters) - Wells Fargo & Co is close to settling a record fine of $1 billion imposed by two U.S. regulators for its risk management business, a source familiar with the matter told Reuters on Thursday......»»

Embattled bank Wells Fargo facing yet another penalty. A source telling Reuters Thursday that federal regulators are getting ready to slap a billion dollar penalty on the bank for a variety of alleged misdeeds......»»

It's the latest hit to the bank's efforts to rebuild its reputation after more than a year of scandal......»»

It's the latest hit to the bank's efforts to rebuild its reputation after more than a year of scandal......»»

WASHINGTON (R.....»»

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Wells Fargo has expanded a review of auto products and services it finances as part of an effort to get ahead of heightened regulatory interest in the area, according to people familiar with the matter......»»

Wells Fargo & Co. Chief Executive Officer Tim Sloan said the firm is ready to increase lending for car sales after pulling back last year, and is now looking with concern at the commercial real estate market......»»

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

The bank's stock is being helped by the rollback of the Dodd-Frank actRelated Stocks: WFC, JPM,.....»»

Wells Fargo & Co. has agreed to pay $2.09 bil.....»»