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Wells Fargo to pay $1.2 billion in FHA-related settlement

(Reuters) - Wells Fargo & Co said it would pay $1.2 billion to resolve some civil claims related to its Federal Housing Administration lending program between 2001 and 2010.

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The company said it had reached an agreement in principle on Feb. 1 with the Department of Justice, the attorney's offices for the Southern District of New York the Northern District of California and the Department of Housing and Urban Development. (http://1.usa.gov/1JXUnNe)

A Wells Fargo Bank sign is seen through a motorized cable car in San Francisco, California October 10, 2013.   REUTERS/Robert Galbraith
A Wells Fargo Bank sign is seen through a motorized cable car in San Francisco Thomson Reuters

(Reporting by Sruthi Shankar in Bengaluru; Editing by Saumyadeb Chakrabarty)

Read the original article on Reuters. Copyright 2016. Follow Reuters on Twitter.
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