Wells Fargo faces $1B fine from federal regulators over mortgage, auto loan abuses
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.
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