Tuesday, May 28, 2024
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US company orders Wells Fargo to pay $3.7 bn for shoddy banking practices

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.

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