CFPB orders Wells Fargo to repay $2B to customers as part of $3.7B settlement
USA TodayMAY 2023
Wells Fargo has continued to abuse its customers with no genuine remorse. While the Consumer Financial Protection Bureau should be applauded for levying its largest fine ever, individuals responsible for Wells Fargo’s corruption should also be targeted. Regulators need to have serious conversations about breaking up the financial behemoth.
Most of the dust has settled around Wells Fargo’s long-running issues with regulators. While there still are problems to resolve, this hefty settlement should be the last major obstacle in the way of the bank’s rebound. The company has completed its list of required actions and is looking to the future.