Receiving a $3 billion penalty for one of the biggest mis-selling scandals in history could hardly be described as a good start to the year for any bank – or a good beginning for a new chief executive. But Wells Fargo’s settlement with the US Department of Justice (DoJ) in early 2020 will hopefully be the peak of the litigation and customer remediation costs it has suffered for setting up millions of fake accounts (among other consumer abuses) in the first decade and a half of the 21st century.
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