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Wells Fargo to cover $1 billion in fines over automobile, mortgage financing abuses

Wells Fargo to cover $1 billion in fines over automobile, mortgage financing abuses

Federal regulators slapped Wells Fargo & Co. with a penalty of $1 billion on Friday, punishing the san francisco bay area bank for abuses that harmed home loan and car finance borrowers, as well as for just exactly just what regulators stated had been a pervasive and “reckless” absence of danger administration.