The bureau said it identified breakdowns throughout Wells Fargo's servicing process, including failing to provide important payment information to consumers, charging illegal fees and failing to update inaccurate credit report information. Wells Fargo neither admitted nor denied the charges, the bureau said. Former Fannie Mae CEO settles SEC lawsuit Daniel Mudd ended a five-year fight with the federal government Monday after the former head of Fannie Mae agreed to pay $100,000 to settle allegations that he misled investors about the mortgage backer's exposure to subprime loans during the run-up to the financial crisis.