When Wells Fargo was hit last week with $185 million in fines after thousands of its employees were caught setting up fake accounts customers didn't ask for, regulators heralded the settlement as a breakthrough.
The Consumer Financial Protection Bureau noted that the $100 million it will collect as part of the deal was the agency's "largest penalty" ever. The head of Office of the Comptroller of the Currency, a banking regulator, said its $35 million penalty would "demonstrate that such practices will not ...
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