Wells Fargo
DOJ
Fraud
Penalty
$2.1 billion
Outcome
Wells Fargo Agrees To Pay $2.09 Billion Penalty For Allegedly Misrepresenting Quality Of Loans Used In Residential Mortgage-Backed Securities
Details
Wells Fargo — DOJ Enforcement (2018)
DOJ took enforcement action against Wells Fargo in CA in 2018 involving fraud violations in the Clinical Laboratories sector.
Penalty: $2.1 billion
Violation types: Fraud
Entity type: Clinical Laboratory
Penalty type: Criminal
Location: CA
Source: DOJ Press Release — Wells Fargo Agrees To Pay $2.09 Billion Penalty For Allegedly Misrepresenting Quality Of Loans Used In Residential Mortgage-Backed Securities
How Crucible Prevents This
Crucible's compliance monitoring for Clinical Laboratories would have detected the patterns underlying this enforcement action.
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