Wells Fargo, one of Jacksonville's top banks, agrees to massive settlement - Jacksonville Business Journal

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.

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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.
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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
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