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October 7, 2010

Wells Fargo Reaches $770M Settlement for Deceptive Loans
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The banking giant Wells Fargo has agreed to modify over 8,700 mortgages
to settle claims it deceptively pushed crippling loans on borrowers in
eight states. Under the deal, Wells Fargo will spend over $770 million
to restructure the loans over a three-year period. Despite admitting to
misleading customers, Wells Fargo also announced it won’t stop
foreclosures and will proceed with evictions.



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