Wells Fargo settles securities fraud class action

The Wall Street Journal reports: "Wells Fargo said Friday it reached a $480 million preliminary settlement agreement in a securities fraud class-action suit. The settlement comes at a difficult time for Wells Fargo, which is dealing with multiple investigations and settlements. The problems kicked off in September 2016 when its sales-practices scandal erupted, and the bank later disclosed it opened up to 3.5 million sham retail banking customer accounts."

The full article is here.

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