![US company orders Wells Fargo to pay .7 bn for shoddy banking practices US company orders Wells Fargo to pay .7 bn for shoddy banking practices](https://www.kuwaittimes.com/wp-content/uploads/2022/12/wells-fargo.jpg)
New York: US officers introduced Tuesday a $3.7 billion agreement with Wells Fargo over an array of “criminal activity” that confused consumers with wrongful house foreclosure and different issues.
Wells Fargo pays $2 billion to compensate consumers and $1.7 billion in civil fines beneath the Shopper Monetary Coverage Bureau agreement.
Wells Fargo referred to as the settlement an “necessary milestone” within the financial institution’s development after a sequence of scandals.