Wells Fargo admits deception in $1.2 billion U.S. mortgage accord

The settlement with Wells Fargo, the largest U.S. mortgage lender and third-largest U.S. bank by assets, was filed on Friday in Manhattan federal court. It also resolves claims against Kurt Lofrano, a former Wells Fargo vice president.

Read more here:
Wells Fargo admits deception in $1.2 billion U.S. mortgage accord

World’s top banks in U.S. government cross-hairs over dealings with 1MDB

By Praveen Menon and Saeed Azhar KUALA LUMPUR (Reuters) – U.S. Department of Justice officials have asked Deutsche Bank AG and JPMorgan Chase & Co to provide details on their dealings with 1MDB, as global investigations into the troubled Malaysian state fund widen. U.S. Department of Justice officials also traveled to Kuala Lumpur to speak to senior bankers and other people with close links to the state fund, three people with direct knowledge of the matter told Reuters.

Read more from the original source:
World’s top banks in U.S. government cross-hairs over dealings with 1MDB