Wells Fargo fined $ 250 million for problems with its mortgage business

Regulators fined Wells Fargo & Co. $ 250 million for lack of progress in resolving long-standing problems in its mortgage business.

The Office of the Comptroller of the Currency, one of the bank’s main regulators, said the lender had failed to address the issues it first identified in a 2018 order, in which the lender bank had harmed its real estate lender clients. This order asked the bank to provide restitution to customers and improve risk management and compliance practices.