Wells Fargo Fined $250 Million for Problems in Its Mortgage Business. Two main areas: charging improper fees for rate-lock extensions in mortgage lending and selling unnecessary insurance coverage to auto-loan customers. Overcharges typically over $1,000 a policy, for unnecessary insurance coverage. – #stocks chatter

September 10, 2021

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Wells Fargo Fined $250 Million for Problems in Its Mortgage Business. Two main areas: charging improper fees for rate-lock extensions in mortgage lending and selling unnecessary insurance coverage to auto-loan customers. Overcharges typically over $1,000 a policy, for unnecessary insurance coverage.

https://www.wsj.com/articles/wells-fargo-fined-250-million-for-problems-in-its-mortgage-business-11631223671?campaign_id=4&emc=edit_dk_20210910&instance_id=40057&nl=dealbook®i_id=670691&segment_id=68566&te=1&user_id=ae1d0e3c6c99c0f78337fe9a551a2cc3