6 years ago
3
Wells Fargo Hit With $1 Billion In Fines Over Home And Auto Loan Abuses
Some consumers were charged too much to extend the lock on their mortgage interest rates, and the bank's mandatory insurance program added unneeded costs and fees to borrowers' auto loans.
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What percentage is that of what they made off of it?
A fifth of their quarterly profit.
Why not criminal sanctions?
You can't put a corporation in jail. They are only "people" when it comes to suitcases of cash for politicians.
You see, no one person was really responsible for this criminal activity, "mistakes were made" etc.
And TBTF.