Wells Fargo reportedly near settlements with SEC and DOJ over sales scandal

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Wells Fargo is reportedly nearing settlements with the Securities and Exchange Commission and the Justice Department over its sales scandal.

and that he will pay $17.5 million for his role in the controversy.

Though management at first insisted a malfeasant few branch workers were responsible for the problem, the blame later shifted to top-down pressures from management to open as many accounts as possible via aggressive cross-selling.

 

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