The Federal Reserve Board on July 2011 issued a consent cease and desist order and assessed an $85 million civil money penalty against Wells Fargo & Company of San Francisco, a registered bank holding company, and Wells Fargo Financial, Inc., of Des Moines. The order addresses allegations that Wells Fargo Financial employees steered potential prime borrowers into more costly subprime loans and separately falsified income information in mortgage applications. In addition to the civil money penalty, the order requires that Wells Fargo compensate affected borrowers.
THIS IS A VERY GOOD NEWS FOR SOME PEOPLE TO GET THEIR MONEY BACK. REMEMBER WHEN YOU REFINANCE YOUR LOAN OR BOUGHT A PROPERTY AND GOT INTO SUBPRIME LOAN AND YOUR LOAN WAS INTENTIONALLY FALSIFIED BY THE BANKS, THE BANKS HAD COLLECTED SO MUCH FEES. IT IS PAY BACK TIME.
THE ORDER TO PAY BACK IS THE BEST THING THAT HAPPENED. THE BANKS NEED TO FOLLOW AND RESPECT THE BANKING RULES. THE AFFECTED BORROWERS NEED THEIR MONEY BACK. THE MONEY THAT THE PEOPLE WILL RECEIVED WILL BE BASED ON THE FEES AND INTEREST PAID.
IT IS NICE TO SHOUT "I NEED MY MONEY NOW!!!!!!!"
This is Lorina
No comments:
Post a Comment