Relevant:
- Wells Fargo fined $185 million for creating 2 million fake bank accounts; Fires over 5,000 Employees
- JPMorgan Overtakes Wells Fargo as Most Valuable U.S. Bank
- Wells Fargo Financial Consolidates; 683 offices close, 3800 jobs gone
- Wells Fargo Unit's Leader Departs With $125 Million After Bank Incurs Record Fine
- F.B.I. Inquiry Adds to JPMorgan's Woes
2015-01-22 — cbsnews.com
``Wells Fargo (WFC) and JPMorgan Chase (JPM) have to pay a combined $35.7 million in penalties and consumer compensation for allegedly taking part in a kickback scheme with a title company, the Consumer Financial Protection Bureau said on Thursday. The banks allegedly worked with the now-defunct Maryland company, Genuine Title, with bank loan officers accepting cash, marketing services and information on consumers in exchange for referring customers to the the title company.''
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