Wells Fargo faces $1B fine for mortgage, auto-loan abuses

(USA Today) Federal regulators are seeking a $1 billion payment from Wells Fargo to settle problems with mortgage and auto loan issues, along with compliance risk management concerns, the bank said Friday as it reported its first-quarter earnings.

Although the finances reported by the financial giant topped Wall Street forecasts, the San Francisco-based bank warned that the results are subject to change due to continuing talks with the regulators.

Wells Fargo said it was “unable to predict the final resolution” of its discussions with the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency and could not “reasonably estimate our related loss contingency” at this time.



Leave a Reply

Recent Posts

Trump Supporters: Get Your 2020 'Keep America Great' Shirts Now!

Are you a proud supporter of President Donald Trump?

If so, you’ll want to grab your 2020 re-election shirt now and be the first on your block to show your support for Trump 2020!

These shirts are going fast so click here to check for availability in your area!


More Popular Stuff for Trump Supporters!

MUST SEE: Full Color Trump Presidential Coin (limited!)

Hilarious Pro Trump 'You are Fake News' Tee Shirt!

[Exclusive] Get Your HUGE Trump 2020 Yard or House Flag!