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    The fallout from Wells Fargo's fake account fiasco is far from over, as the bank announced late Tuesday that it reached a $110 million settlement in a class action lawsuit brought on behalf of the bank’s customers who had a fake account opened in their name. Click the headline to read more about the settlement.

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Two lawmakers want Fannie, Freddie reform by year’s end

freddie

Two members of the Senate Banking Committee want Fannie Mae and Freddie Mac winded down by the end of the year, Law360 reports.

Whether it’s possible or not, the paper says the two lawmakers are pushing for quick and sharp reforms:

Banking Committee Chairman Tim Johnson, D-S.D., said a Thursday hearing to explore some of the myriad issues that come with bringing change to the nation's multitrillion housing finance system would be the first in what will be an “in-depth process” that would result in legislation by the end...(of the year)

Source: Law360

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