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Heres what Wells Fargo did to trigger a 1 billion fine

Unlike many of the scandals that have triggered billion-dollar penalties for banks, the problems that led to a 10-figure federal government settlement for Wells Fargo & Co. don’t appear to have colorful emails or trader messages describing bad behavior. Wells Fargo’s (WFC) risk management already resulted in an unprecedented Federal Reserve sanction of having its growth limited. Wells Fargo, keep in mind, was fined by the CFPB and other regulators after opening millions of customer accounts without permission.

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