“Wells Fargo has been ordered to pay $3.7 billion by the Consumer Financial Protection Bureau (CFPB) for a variety of illegal activity, including wrongfully foreclosing on homes, illegally repossessing vehicles, incorrectly assessing fees and interest, and charging surprise overdraft fees.
The activity affected more than 16 million consumer accounts.
The fine consists of more than $2 billion in redress to customers, and a $1.7 billion civil penalty.”