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Wells to Pay $3.7B in CFPB Settlement Over Customer Abuses

Wells Fargo has reached a $3.7 billion settlement with the Consumer Financial Protection Bureau over consumer abuses involving overdraft fees, mortgages and auto loans. So reports CNBC.

CFPBThe CFPB said the settlement amount consists of a record $1.7 billion civil penalty and more than $2 billion to customers.

Wells said in a statement that the bank had already taken many of the “required actions” linked to the agreement.

Read the full article from CNBC.

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