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Wells Fargo proves that big fines for banks don't work

Wells Fargo continues to make headlines, and not the kind that it wants. Still reeling from the consequences of its appalling sales practices earlier this decade, Wells Fargo agreed in December to pay $ 575 million to settle claims brought by several states.

Unfortunately, the cycle of bad acts, followed by customer outrage, lawsuits, settlements and later returning to business as usual is treated as a wash-rinse-repeat process for many financial services companies. Lawsuits, settlements an…
Banking Industry News

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