Wells Fargo Agrees To Pay $3 Billion Fine Over Fake Account Scandal

Wells Fargo was involved in a scandal where employees created fake accounts to boost sales. The bank settled with the DOJ and SCC, admitting to collecting unauthorized fees, harming credit ratings, and misusing personal information. A $3 billion fine was imposed, highlighting leadership failures. The DOJ agreed not to prosecute if Wells Fargo cooperates with investigations.

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