Lawyers for Wells Fargo Bank claimed on November 1 that the U.S. Justice Department violated the terms of a mortgage fraud settlement, reached earlier this year, when the government filed a new lawsuit in October in New York federal district court.
Lawyers for Wells Fargo said in a court filing in Washington that the bank’s earlier $5 billion settlement over alleged discriminatory practices in the mortgage loan market “wiped the slate clean” on any further liability except for in “carefully crafted, narrow circumstances.” The bank’s attorneys asked a trial judge to declare that the government breached the settlement terms.
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