Wells Fargo to pay $1.2 billion in FHA-related settlement

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[February 03, 2016]  (Reuters) - Wells Fargo & Co said it would pay $1.2 billion to resolve some civil claims related to its Federal Housing Administration lending program between 2001 and 2010.

The company said it had reached an agreement in principle on Feb. 1 with the Department of Justice, the attorney's offices for the Southern District of New York the Northern District of California and the Department of Housing and Urban Development. (http://1.usa.gov/1JXUnNe)

(Reporting by Sruthi Shankar in Bengaluru; Editing by Saumyadeb Chakrabarty)

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