Business, Politics

Attorney General Frosh announces $20 million settlement with Wells Fargo

BALTIMORE, MD—Maryland Attorney General Brian E. Frosh announced on Tuesday that the Securities Division entered into a $20 million settlement with Wells Fargo & Company. The Consent Order resolves financial crisis-era claims that Wells Fargo misled investors in its issuance of residential mortgage-backed securities (RMBS). The $20 million settlement is the largest reached by a state for Wells Fargo’s financial-crisis …