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Wells Fargo unable to pay severance to laid-off staff due to scandal

More than 400, from rank-and-file branch workers to corporate executives, are affected

New York

FOR more than 400 employees recently laid off by Wells Fargo, the aftermath of the bank's scandal over sham accounts has had an unexpected consequence: the bank is prohibited from paying the severance it owes them.

In mid-November, Wells Fargo's federal regulator, the...

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