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U.S. Bancorp
Wells Fargo sued over mortgage securities

Wells Fargo & Co. was sued by the agency that oversees federal credit unions and accused of failing to protect investors while acting as trustee over securities backed by home loans that defaulted after the 2008 credit crisis. Investors in the mortgage securities that played a central part in the housing bubble that helped send the U.S. into the worst recession since the 1930s are increasingly taking aim at trustees over their roles in the crisis. The National Credit Union Administration board's complaint, filed in federal court in Manhattan, follows a similar action taken by the regulator last week against Bank of America Corp. and U.S. Bancorp. The cases are based on the same...

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