Wells Fargo & Co will reportedly pay at least $500 million to settle claims made by U.S. states that the bank created phony accounts and other customer abuses.
Two years ago, Wells Fargo agreed to pay $190 million to settle federal claims that the bank created phony customer accounts. Reuters reports, the deal, due to be announced on Friday, will settle similar claims made by attorneys general from several states, including California, where Wells Fargo is headquartered.
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