Wells Fargo & Co., the largest U.S. home lender, settled legal disputes with federal regulators tied to mortgage-backed securities for about $335 million.
Reserves covered the sum in the accord with the Federal Housing Finance Agency and other regulators, the bank said Tuesday.
The bank is among U.S. lenders seeking to resolve disputes over flawed loans sold to government-backed firms. The six biggest U.S. banks have piled up more than $100 billion in legal costs, including settlements and lawyers’ fees, since the financial crisis, data compiled by Bloomberg show.
Wells Fargo cut its estimate of potential legal bills outside of those covered by existing reserves to $1 billion even at the end of the third quarter, from slightly more than $1 billion at midyear, the filing shows. The estimate for potential uncovered costs of
