Wells Fargo (WFC) paid $335 million to the Federal Housing Finance Agency to settle allegedly-misleading disclosures on mortgage-backed securities sold to Fannie Mae and Freddie Mac, the Wall Street Journal writes.
The FHFA filed 18 lawsuits against the world's largest banks in 2011 seeking unspecified damages on $200 billion in mortgage securities bought by Fannie and Freddie but never filed a lawsuit against Wells.
Instead, the two sides reached an agreement that let the FHFA reserve the right to file a lawsuit after the statute of limitations ran out in September 2011 so that the bank and the regulator could continue settlement talks.
