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Because of the penalties, Wells Fargo says, it is adjusting its preliminary financial results for the first quarter of 2018, shifting $800 million in its balance sheet and dropping its net income for the quarter to $4.7 billion.
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In one five year period from 2011 to 2016, Wells Fargo acknowledged canada goose victoria parka outlet in the settlement, the extra costs of force placed insurance may have played a role in at least 27,000 customers having their vehicles repossessed.
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The problems persisted for several years after the bank’s internal audit identified the risk of harming consumers, according to the government’s filing about the settlement.
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