Wells Fargo accused of improper mortgage changes

Wells Fargo accused of improper mortgage changes

Wells Fargo & Co. is facing allegations that officials in the company’s mortgage business put through unauthorized changes to home loans held by customers in bankruptcy. According to a class action and other lawsuits, the changes typically lowered monthly loan payments but extended the terms of borrowers’ loans by decades, meaning borrowers would ultimately owe the bank much more. Wells Fargo denies the claims and contends that customers agreed to the changes.

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