Daily Archives: August 31, 2018

Wells Fargo diving back into securities that fueled 2008 financial crisis

Wells Fargo just can’t help itself.

The nation’s third-biggest bank is planning to ramp up trading in controversial securities tied the mortgage market — just weeks after it paid a $2 billion fine for its role in the financial crisis, The Post has learned.

Headed by Chief Executive Tim Sloan, Wells Fargo is actively working on deals with non-bank mortgage lenders to package up home loans “in mass capacity” and sell them off to investors hungry for returns, according to a person directly familiar with the plans.

Read on.