Wells Fargo's Sordid Fake Accounts Scandal Ends With $3 Billion Fine

Wells Fargo was hit with a $3 billion fine Friday by federal authorities.

CNN reports the fine comes after outrage over the millions of fake accounts created at the troubled bank over many years.

Wells Fargo is one of America's largest and most powerful banks.

The settlement with the Justice Department and Securities and Exchange Commission was years in the making.

It resolves Wells Fargo's criminal and civil liabilities for the fake-accounts scandal that erupted nearly four years ago.

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