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Wells Fargo Fined $1B For Mortgage, Auto Lending Abuses

Law360 (April 20, 2018, 10:11 AM EDT) -- Wells Fargo will pay a $1 billion fine to the Consumer Financial Protection Bureau and Office of the Comptroller of the Currency as part of settlements unveiled Friday resolving allegations of improper practices in the bank’s auto lending and mortgage divisions.

Wells Fargo's settlements mark the latest fallout from the string of scandals that has plagued the bank since it was accused in 2016 of having created more than 2 million fraudulent deposit and credit card accounts. (AP)

The settlements, reflected in consent orders that put Wells...
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