Wells Fargo in Record Settlement with FHA and DOJ, First Tennessee to Resolve Discrimination Complaint
February 4, 2016
Wells Fargo has agreed in principle to a $1.2 billion settlement to resolve FHA-related civil claims brought by the federal government while First Tennessee Bank has agreed to subsidize interest-rate reductions on home mortgages as part of a $1.9 million settlement agreement with the Department of Housing and Urban Development. The Wells Fargo settlement was disclosed in a recent filing with the Securities and Exchange Commission. If finalized, the settlement would be the largest for FHA. So far, the FHA has collected...
Christopher Stanley, a security engineer at SpaceX, is the first member of Elon Musk’s Department of Government Efficiency to join a GSE board.
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