Wells Fargo will pay a $2.09 billion civil penalty for allegedly selling residential mortgage loans that included misstated income information, the Justice Department said.
The Consumer Financial Protection Bureau is levying a $1 billion fine against Wells Fargo as punishment for the banking giant's actions in its mortgage and auto loan businesses.
Spencer Platt/Getty Images
The Crocker branch of Wells Fargo on Montgomery Street in San Francisco, whose former employees say the sales pressure was intense and the deceptive practices widespread.
John Stumpf, the former chairman and CEO of Wells Fargo, will repay $28 million to the bank over an improper sales practices scandal. He's seen here visiting the House Financial Services Committee last September.
Mark Wilson/Getty Images
OSHA says a manager's report of suspected fraudulent activity was at least partly responsible for his firing. Here, pedestrians pass in front of a Wells Fargo bank branch in New York earlier this year.
Bloomberg via Getty Images
Olivia One Feather (center) of the Standing Rock Sioux tribe holds up her fist after the Seattle City Council voted Tuesday to divest from Wells Fargo over its role as a lender to the Dakota Access Pipeline project.
Wells Fargo CEO John Stumpf testifies before the Senate Banking Committee in September. Stumpf is resigning effective immediately in the aftermath of the bank's sales tactics scandal.