Wells Fargo agreed to pay $3.7 billion to settle charges that it harmed more than 16 million customers in the largest-ever fine handed down by the Consumer Financial Protection Bureau.
“This is an important initial step for accountability and long-term reform of this repeat offender,” Chopra said. Fines handed down by regulators for financial misconduct have skyrocketed in recent years, according to a report by Forex Suggest. In 2022, the total dollar amount of fines increased by 415% to $12 billion, the report shows. The average fine ballooned from $8 million in 2021 to $78 million in 2022, despite the total number of fines falling from 289 to 154 during that time.
Sverige Senaste nytt, Sverige Rubriker
Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.
City of Jacksonville approves $3.8M permit for Arlington Winn-Dixie renovations - Jacksonville Business JournalShaycore LLC is the contractor slated to renovate the 43,615-square-foot store.
Läs mer »
Photos: See some of Jacksonville, St. Augustine's new holiday cocktails - Jacksonville Business JournalPeruse our winter cocktail gallery for holiday spirits and libations from some of Jacksonville's well-known bars.
Läs mer »
Sugar Factory American Brasserie to open in Jacksonville in January - Jacksonville Business JournalThe restaurant is known for its Insane Milkshakes and King Kong Sundae — big enough for 12 people.
Läs mer »
Wells Fargo economists say housing downturn still in ‘early innings’ - San Francisco Business TimesIn banking news, WellsFargo economists say they expect nation's median existing single-family home price to fall in 2023
Läs mer »