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Reports: $1B Fine for Wells Fargo for Illegal Sales

U.S. news reports say Wells Fargo will be fined as much as $1 billion for illegally selling customers car insurance policies they did not want or need, and for charging unnecessary fees in connection with mortgages. This would be the largest fine ever imposed by federal bank regulators and the Consumer Financial Protection Bureau. The fine is part of a settlement regulators negotiated with the bank. Wells Fargo and federal officials have not commented on the reports. The San...

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