Wells Fargo Reaches $3.7 Billion Deal With Regulators Over Consumer Banking

Wells Fargo reached a $3.7 billion deal with the Consumer Financial Protection Bureau to resolve allegations it illegally assessed fees and interest charges on loans for cars and homes

Wells Fargo & Co. reached a $3.7 billion deal with regulators to resolve allegations that its actions harmed over 16 million consumers.

The settlement with the Consumer Financial Protection Bureau includes a $1.7 billion penalty and over $2 billion in consumer restitution, the regulatory agency said Tuesday.

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