Wells Fargo Bank will pay at least $175 million to settle accusations that it discriminated against African-American and Hispanic borrowers in violation of fair-lending laws, the Justice Department announced Thursday.
New Jersey US Senator Robert Menendez is joining California Democrat Barbara Boxer to introduce legislation which is aimed at giving struggling homeowners a chance to refinance at lower rates and save money.
President Barack Obama says a $25 billion settlement between mortgage lenders and states over foreclosure abuses "will begin to turn the page on an era of recklessness that has left so much damage in its wake."
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