Comment on Wells Fargo Fined $3 Billion in ‘Staggering’ Fake Accounts Scandal

Wells Fargo Fined $3 Billion in ‘Staggering’ Fake Accounts Scandal

Wells Fargo was hit with a $3 billion fine Friday by federal authorities outraged by the millions of fake accounts created at the troubled bank over many years. The settlement with the Justice Department and Securities and Exchange Commission (SEC), years in the making, resolves Wells Fargo’s criminal and civil liabilities for the fake-accounts scandal that erupted nearly four years ago.

 

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