Wells Fargo enters mortgage agreement with 8 states

10/7/2010 | Wall Street Journal, The

Wells Fargo has entered an agreement with eight states over mortgages offered by Wachovia and Golden West Financial, which the San Francisco bank acquired over the past few years. Wells Fargo will pay $24 million and reduce the amount owed on certain types of loans by roughly $400 million. "This is an agreement focused on doing what is right for borrowers facing hardships in light of unprecedented economic challenges," a spokeswoman for Wells Fargo said.

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