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auto insurance scandal

CFPB Could Fine Wells Fargo $1 Billion for Auto Insurance Scandal

The Consumer Financial Protection Bureau is preparing for an unprecedented fine against Wells Fargo. The Bureau could charge as much as $1 billion for overcharging auto loan customers for insurance, an act which resulted in 25,000 vehicle repossessions and 250,000 payment defaults. According to Reuters, “three sources with knowledge of the plans” said Mick Mulvaney,

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