New Hit to Wells Fargo: Overcharging Mortgage Defaulters for Appraisals
In an apparent effort to maintain its hold on the front pages of America, Wells Fargo has just been hit with a new scandal: overcharging hundreds of thousands of homeowners for appraisals ordered after they defaulted on their mortgages. Wells Fargo used one of its own subsidiaries to conduct the appraisals, then marked up the cost. The bank will pay $50 million to settle the class-action lawsuit. [11/2/16]


