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Wells Fargo settles account-scandal claims but runs afoul of federal regulator

March 30, 2017

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Wells Fargo will pay $110 million to settle a class action lawsuit brought by US consumers over a scandal about fake accounts its employees set up for customers without their knowledge, writes Paybefore (Banking Technology‘s sister publication).

But the trouble continues for the financial institution, which has received a dim evaluation from a federal regulator.

Wells Fargo already has paid at least $190 million to regulators to settle claims arising from the scandal.

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