Wells Fargo will pay $190 million to settle customer fraud case

September 8, 2016 9:33 PM

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Wells Fargo will pay $190 million to settle customer fraud case

WASHINGTON Wells Fargo has long been the envy of the banking industry for its ability to sell multiple products to the same customer, but regulators on Thursday said those practices went too far in some instances.

The largest U.S. bank by market capitalization will pay $185 million in penalties and $5 million to customers that regulators say were pushed into fee-generating accounts they never requested.

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