Wells Fargo settles for $1.2 billion, admits they deceived U.S. government into insuring crap

http://www.dailykos.com/story/2016/04/14/1515317/-Wells-Fargo-settles-for-1-2-billion-admits-they-deceived-U-S-government-into-insuring-crap

The settlement with Wells Fargo, the largest U.S. mortgage lender and third-largest U.S. bank by assets, was filed on Friday in Manhattan federal court. It also resolves claims against Kurt Lofrano, a former Wells Fargo vice president.
According to the settlement, Wells Fargo "admits, acknowledges, and accepts responsibility" for having from 2001 to 2008 falsely certified that many of its home loans qualified for Federal Housing Administration insurance.