Wells Fargo to Pay 1 Billion Dollar Fine

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The nation’s third-largest bank accepted an extraordinary request Friday this would give the Office of the Comptroller of the Currency the right to remove some of the lender’s execs or panel members.

That huge penalty shows up top of the penalties Wells Fargo will pay to settle amid U.S. probes into persecution of customers, this is seen as one of, if not the biggest sanction of a U.S. bank under President Donald Trump.

The bank revealed last year that it told customers who’d obtained both car and home loans with the company that they needed to accept an undesirable insurance. That, was against the law. These inconsistencies were located after a bank probe that occured in the summer of 2017.