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Wells Fargo May Face $1B Fine For Customer Charges

Law360 (April 13, 2018, 2:58 PM EDT) -- Wells Fargo & Co. could be fined as much as $1 billion by the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency to end investigations about questionable charges within its auto lending and mortgage units, the bank said on Friday.

Wells Fargo previously disclosed that home loan customers might have been improperly charged fees for extending locks on mortgage rates and auto loan customers might have been charged for unnecessary insurance coverage. A civil penalty related to those practices could require...
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