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Federal authorities and this lawsuit seek to bring Wells Fargo to its end


Amid further investigations and probes into Wells Fargo’s illegal actions into opening fake accounts (among other things), CEO Stumpf has a new problem.

According to newly published reports, Wells Fargo, has ultimately decided that Stumpf must repay $41m in stock options and rewards that he reaped while at the helm of the very same scandal that will likely result in the end of Wells Fargo.

In documents obtained by The Daily News, a federal lawsuit against the bank seeking $7.1billion in damages is currently making its way through the Supreme Court.  The suit accuses Wells Fargo of illegal deception; retaliation against whistleblowers, and of course the worst part: opening 2million fake bank accounts.


Additionally, six former employees allege in evidentiary documents that they were fired after refusing to participate in what amounts to numerous federal crimes including money laundering at the hands of Wells Fargo.

Wells Fargo declined to comment on this story.


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