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Water Water Wells Fargo receives largest ever CFPB fine for sales methods

Water Water Wells Fargo receives largest ever CFPB fine for sales methods

The lender can pay a complete of $190 million in charges and restitution for lots and lots of workers starting accounts that are unauthorized an endeavor to garner greater bonuses and better performance reviews. The lender has dropped revenue objectives because of its customer bankers within the wake of this settlement.

Water Wells Fargo ended up being docked $100 million over exactly what the customer Financial Protection Bureau stated were “widespread” practices of opening unauthorized records. Read more

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