https://www.msn.com/en-us/money/compani ... smsnnews11
Regulators have offered Wells Fargo & Co a penalty of $1 billion to resolve outstanding investigations related to auto insurance and mortgage lending abuses, the third-largest U.S. bank by assets said in its first quarter results on Friday.
Reuters reported on Monday that the Consumer Financial Protection Bureau and Office of the Comptroller of the Currency were readying a fine of up to $1 billion for Wells Fargo's auto insurance and mortgage lending abuses.
The bank said it may have to revise its quarterly results to reflect the final settlement.
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