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Wells Fargo will pay $190 million to settle customer fraud case

“Wells Fargo reached these agreements consistent with our commitment to customers and in the interest of putting this matter behind us,” the bank said of its settlement with California prosecutors and federal regulators. The Consumer Financial Protection Bureau will receive $100 million of the total penalties – the largest fine ever levied by the agency, which was conceived after the 2008 financial crisis. “Today's action should serve notice to the entire industry that financial incentive programs, if not monitored carefully, carry serious risks that can have serious legal consequences,…

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Wells Fargo will pay $190 million to settle customer fraud case

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Wells Fargo will pay $190 million to settle customer fraud case

“Wells Fargo reached these agreements consistent with our commitment to customers and in the interest of putting this matter behind us,” the bank said of its settlement with California prosecutors and federal regulators. The Consumer Financial Protection Bureau will receive $100 million of the total penalties – the largest fine ever levied by the agency, which was conceived after the 2008 financial crisis. “Today's action should serve notice to the…

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Wells Fargo will pay $190 million to settle customer fraud case

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Fed’s Fischer watching how quickly Brexit unfolds: CNBC

The U.S. economy has shown signs of improvement in recent weeks but the Federal Reserve expects it will take some time before it can assess the impact of Britain's vote to leave the European Union, Fed Vice Chair Stanley Fischer said on Friday. A June 3 report showing a sharp slowdown in hiring during May and the risks around…

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Fed’s Fischer watching how quickly Brexit unfolds: CNBC

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London bankers face Brexit choice: lobby or leave

By Sinead Cruise and Lawrence White LONDON (Reuters) – A week after Britons voted themselves out of the European Union, many London-based bankers and their employers face two options if they are to secure their futures: lobby or leave. Some investment banks, anxious not to stir speculation of an exodus from the historic City of London and its modern counterpart at Canary Wharf, have given out “business as usual” messages since last week's shock referendum result. The alternative for banks and …

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London bankers face Brexit choice: lobby or leave

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Berkshire seeks to boost its Wells Fargo stake above 10 percent

Warren Buffett's Berkshire Hathaway Inc is seeking permission from the Federal Reserve to increase its ownership stake in Wells Fargo & Co , after reaching the 10 percent level that could prompt increased regulatory scrutiny. According to papers obtained by Reuters on Friday, Berkshire said it learned in mid-March that its Wells

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Berkshire seeks to boost its Wells Fargo stake above 10 percent

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