Lending

US Sues Wells Fargo for Mortgage Fraud

Says bank made "reckless" loans for past decade

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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.