In the USA there was a scandal involving one of the largest American banks. As reported RIA Novosti, we are talking about Wells Fargo Bank who provided false information on mortgage programs with state participation. The Bank will pay a fine of 1.2 billion dollars.
Between may 2001 and December 2008, the Bank had deliberately misled the authorities, saying that some mortgages were eligible for insurance by the Federal housing administration of the United States. When the country was hit by the mortgage crisis, millions of American taxpayers who have taken loans, have suffered.
On the basis of insurance contracts for non-payment instead of Bank loans the government was forced to pay large amounts of money. The Bank, in turn, is fined a record $ 1.2 billion. It is the largest that has ever been able to get the Americans because of unfair lending
