Scams: Mentioned in every article in newsletter: Investment News
Several large firms fined.
In 2018, Wells Fargo ordered to pay $1 Billion to settle U.S. probes into mistreatment of consumers as the firm tries to resolve a year and a half of scandals across its operations. The settlement covers issues in Wells Fargo’s auto-lending and mortgage units. The bank revealed last year that it had forced unwanted insurance on customers who took out car loans, prompting investigations by U.S. and California regulators. It was also accused of imposing charges for locking in interest rates on new home loans.
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