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Wells Fargo, JPMorgan to pay $35.7 million for illegal mortgage kickbacks

( January 22, 2015, 18:40 GMT | Official Statement) -- MLex Summary: The US Consumer Financial Protection Bureau and the Maryland Attorney General announced on Thursday that they settled charges against Wells Fargo, a Wells Fargo employee and his wife, and JPMorgan Chase for an illegal marketing-services-kickback scheme they participated in with Genuine Title. The proposed orders, filed in federal court, would require $24 million in civil penalties from Wells Fargo, $600,000 in civil penalties from JPMorgan Chase, and $11.1 million in redress to consumers whose loans were involved in this scheme. Statement follows in full. Also see document below. ...

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