Wells Fargo To Pay $2.09B To Settle RMBS Dispute With Justice Department

(August 2, 2018, 2:10 PM EDT) -- WASHINGTON, D.C. — Wells Fargo Bank NA will pay $2.09 billion to settle claims by the U.S. Department of Justice alleging that the financial institution issued false and misleading statements to shareholders about the investment quality of the subprime loans that were packaged in its residential mortgage-backed securities (RMBS), according to a settlement agreement reached between the parties on Aug. 1....