Wells Fargo To Pay Largest Civil Penalty Ever For Mismanagement Of Accounts

The U.S. Consumer Financial Protection Bureau reached an agreement with Wells Fargo & Co. on a $3.7 billion penalty, the largest fine ever handed down by the agency, for mismanagement of car loans, mortgages, and bank accounts. The bank charged illegal fees and interest on loans, wrongly repossessed cars, and imposed wrongful overdraft fees on bank accounts.

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