Wells Fargo also admitted that it had charged some customers improper fees to lock in an interest rate for a mortgage. The combined $1 billion fine would be among the largest ever levied by either regulator. Wells Fargo, which disclosed last week that it faced a hefty fine, and the OCC declined to comment. Big banks such as Wells Fargo have looked forward to a resurgence during the Trump administration. The expected $1 billion fine is large, but it is hardly crippling for Wells Fargo, which has more than $1 trillion in assets.

Source: Washington Post April 19, 2018 21:22 UTC