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Wells Fargo Said to Near About $3 Billion Deal to End Probes (1)

Feb. 21, 2020, 3:16 AM

Wells Fargo & Co. is poised to pay roughly $3 billion to settle federal investigations into a range of consumer abuses that were rampant at the bank for years, according to a person with direct knowledge of the matter.

The Department of Justice and Securities and Exchange Commission may announce penalties as early as Friday, the person said, asking not to be identified because talks are confidential. The company isn’t expected to plead guilty to a crime, the person said.

Spokespeople for the company and Justice Department declined to comment. A spokeswoman for the SEC didn’t immediately respond to a ...

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