Richard Cordray

Trump denies that Wells Fargo may avoid federal penalties for alleged mortgage lending abuses

Trump denies that Wells Fargo may avoid federal penalties for alleged mortgage lending abuses

President Trump on Friday denied a report that the federal consumer financial watchdog might drop sanctions against Wells Fargo & Co. for alleged mortgage lending abuses, and said the bank could face even tougher penalties.

Trump’s comments on Twitter appeared to be in response to a Reuters report that Mick Mulvaney — whom Trump installed last month as acting director of the independent Consumer Financial Protection Bureau — was reviewing whether Wells Fargo should pay tens of millions of...

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