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Wells Fargo to pay $175M in lending settlement

Wells Fargo Bank will pay at least $175 million to settle accusations that it discriminated against African-American and Hispanic borrowers in violation of fair-lending laws, the Justice Department announced Thursday.

Justice Department presses Wells Fargo on loans: source

Wells Fargo & Co and the Department of Justice are negotiating to settle allegations that the bank illegally targeted African-Americans for expensive subprime loans, according to a source familiar with the matter.

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