Wells Fargo continues to get kicked in the shins for the sins of Wachovia. Two years after agreeing to massive settlements with borrowers over that former bank’s Pick-A-Pay loans and hundreds of millions more in settlements to investors, new legal filings allege Wells Fargo hasn’t make good on promised mortgage reductions. [More]
Nearly three years later, Wells Fargo is still feeling the stomach ache from its decision to gobble up the expired scraps of Wachovia. It was revealed today that the Fargo folks have agreed to shell out $590 million to settle the class-action lawsuit over Wachovia’s “Pick-a-Pay” loans.