US Sues Wells Fargo for Mortgage Fraud

Says bank made "reckless" loans for past decade


The U.S. government sued Wells Fargo over claims that the bank made reckless home mortgage loans for a decade.

In a lawsuit filed Tuesday in Manhattan's Southern District of New York, the government accused Wells Fargo of "reckless underwriting" and fraudulently approving thousands of home loans that caused large-scale losses for the government.