Wells Fargo to pay $108M settlement over veterans’ loans

Wells Fargo to pay $108M settlement over veterans’ loans

Wells Fargo & Co. will pay the U.S. government $108 million to settle a decade-old whistleblower lawsuit that alleged the bank charged military veterans hidden fees when refinancing mortgages and then concealed the fees when applying for federal loan guarantees. The bank, which is still reeling from a separate fake-account scandal and recent revelations that it wrongly charged customers for auto insurance, also says it is investigating whether the fees it charged to extend interest rate locks on residential mortgages, as well as its practice of freezing accounts for suspected fraud, harmed customers.

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