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U.S. fines Wells Fargo, JPMorgan over 'illegal mortgage kickbacks'


    WASHINGTON (Reuters) - U.S. and state regulators ordered Wells Fargo and JPMorgan Chase to collectively pay $35.7 million on Thursday to settle charges that they participated in an illegal marketing kickback scheme with a now-defunct title company.

    The Consumer Financial Protection Bureau and the Maryland Attorney General's Office ordered Wells Fargo to pay a $24 million penalty plus another $11.1 million in redress to consumers. JP Morgan will pay a $600,000 penalty, plus another $300,000 in redress, the CFPB said.

    (Reporting by Sarah N. Lynch)