CFPB Planning Record Fine Against Wells Fargo For Mortgage Lending, Auto Insurance Abuses
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Title : CFPB Planning Record Fine Against Wells Fargo For Mortgage Lending, Auto Insurance Abuses
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Title : CFPB Planning Record Fine Against Wells Fargo For Mortgage Lending, Auto Insurance Abuses
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news-today.world | President Donald Trump has apparently kept his promise that the Consumer Financial Protection Bureau, under the leadership of OMB Director Mick Mulvaney, isn't planning on dropping its pursuit of penalties against Wells Fargo for overcharging mortgage borrowers and forcing customers to buy auto insurance they didn't need.
According to Reuters, the CFPB is reportedly planning to levy a record fine against the bank that could exceed several hundred million dollars - and possibly be as high as $1 billion, per three people with knowledge of the agency's plans. If this comes to pass, it would be the largest fine ever levied by the CFPB. The agency previously fined Wells Fargo $100 million in September 2016. That is currently its largest ever fine.
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According to Reuters, the CFPB is reportedly planning to levy a record fine against the bank that could exceed several hundred million dollars - and possibly be as high as $1 billion, per three people with knowledge of the agency's plans. If this comes to pass, it would be the largest fine ever levied by the CFPB. The agency previously fined Wells Fargo $100 million in September 2016. That is currently its largest ever fine.
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You are now reading the article CFPB Planning Record Fine Against Wells Fargo For Mortgage Lending, Auto Insurance Abuses With link address https://newstoday-ok.blogspot.com/2018/04/cfpb-planning-record-fine-against-wells.html