Los Angeles Business Journal

Wells Fargo to Pay $591 Million to Fannie Mae

Monday, December 30, 2013

Wells Fargo & Co. said Monday that it has agreed to pay $591 million to settle disputes over soured mortgages the bank sold to Fannie Mae during the subprime housing boom, says the Los Angeles Times. The Times also reports that a recent Times investigation into the intense sales culture at Wells Fargo has drawn strong reaction from the bank's customers and employees.