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Wells Fargo sales abuses face prospect of sanctions

Staff at Office of the Comptroller of the Currency 'have recommended enforcement action'

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The potential for further sanctions comes as Wells Fargo CEO Tim Sloan was set to appear before the Senate Banking Committee on Tuesday to answer questions about a scandal over its sales practices.

Washington

THE main regulator for Wells Fargo & Co is considering whether to sanction the US bank over improperly charging customers for car insurance and mortgage loans, according to a source familiar with the matter.

The Office of the Comptroller of the Currency (OCC) has for...

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