Wells Fargo Ordered To Pay Customers $3.7B
View Source | December 20, 2022 9:38 am
- Consumer banking giant Wells Fargo was ordered to pay $3.7 billion in fines and refunds to customers by U.S. government regulators, the largest fine to date against the bank, which has spent years trying to rehabilitate itself after a series of scandals tied to its sales practices.
- The amount is nearly quadruple the previous $1 billion penalty that Wells Fargo paid in 2018 to cover widespread consumer law violations.
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