Wells Fargo to Cough Up $3.7 billion Settlement over Allegations of “Illegal” Activity
Posted on 12/20/2022
The Consumer Financial Protection Bureau (CFPB) fined Wells Fargo, the third largest U.S. bank, a record US$ 1.7 billion for “widespread mismanagement” over multiple years that harmed over 16 million consumer accounts. “Wells Fargo’s rinse-repeat cycle of violating the law has harmed millions of American families,” CFPB Director Rohit Chopra said in a statement. The…
