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The Boston Globe

Business

Wells Fargo pauses some foreclosures over new rules

SAN FRANCISCO — Wells Fargo & Co., the biggest US home lender, halted some foreclosure sales until it can understand new federal guidelines on seizures sent to the nation’s large and mid-sized banks.

The new rules from the Office of the Comptroller of the Currency dated last month laid out minimum standards that must be met before a foreclosed home can be sold, according to the agency. Citigroup also said Friday it is evaluating the comptroller’s directive.

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