Wells Fargo is being investigated by the U.S. Department of Justice for allegedly colluding with affordable housing developers nationwide to drive down the prices of low-income tax credits – potentially defrauding hundreds of millions of dollars from the federal program. Among the banks, Wells Fargo is the largest buyer of the tax credits. The San Francisco-based bank said last year that it had invested $9 billion into the program over the previous five years. Banks […]
source https://therealdeal.com/miami/2018/08/13/wells-fargo-under-investigation-for-its-alleged-role-in-low-income-housing-tax-credit-fraud/#new_tab
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