Wells Fargo was fined $190M to settle customer fraud case and will pay $185 million in penalties and $5 million to customers that regulators say were pushed into fee-generating accounts that they never requested, officials said.
"Wells Fargo reached these agreements consistent with our commitment to customers and in the interest of putting this matter behind us," the bank said of its settlement with California prosecutors and federal regulators.
"We regret and take responsibility for any instances where customers may have received a product that they did not request," it added.
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