WASHINGTON (Reuters) - Wells Fargo & Co has agreed to pay $125 million to settle an investigation by the U.S. Justice Department into its mortgage lending practices, according to documents filed in U.S. District Court for the District of Columbia on Thursday.
The settlement, which needs approval from a judge, would end a previously reported investigation into whether the fourth largest U.S. bank discriminated on the basis of race and national origin between 2004 and 2009.
A news conference at the Justice Department is scheduled for 11:15 a.m. EDT (1515 GMT).
(Reporting by David Ingram; editing by Jeffrey Benkoe)