UPDATE 1-Wells Fargo admits deception in $1.2 bln U.S. mortgage accord
April 08, 2016 at 18:03 PM EDT
April 8 (Reuters) - Wells Fargo & Co admitted to deceiving the U.S. government into insuring thousands of risky mortgages, as it formally reached a record $1.2 billion settlement of a U.S. Department of Justice lawsuit.