Wells Fargo ordered to pay $3.7 billion for alleged mismanagement of auto, mortgages and deposit accounts

Wells Fargo ordered to pay $3.7 billion for alleged mismanagement of auto, mortgages and deposit accounts

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The Consumer Financial Protection Board (CFPB) on Tuesday said it is requiring Wells Fargo & Co. to pay $3.7 billion for alleged widespread mismanagement of auto loans, mortgages and deposit accounts. The CFPB said Wells Fargo “repeatedly misapplied loan payments, wrongfully foreclosed on homes…

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