Wells Fargo, which some have described as "perpetually scandal-prone," has been setting aside hefty sums in recent quarters to deal with its "laundry list" of outstanding legal and regulatory issues. However, the bank has indicated that more of its scandals are headed to a conclusion soon.
In December last year, the beleaguered bank was fined a record $3.7 billion by the Consumer Financial Protection Bureau over consumer abuses, which consumed some of these allotted funds. "Wells Fargo's rinse-repeat cycle of violating the law has harmed millions of American families," CFPB Director Rohit Chopra said in a statement at the time.
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