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Over the past two years, Wells Fargo has faced numerous lawsuits and government investigations stemming from a cascade of business scandals.

On Friday, it took a step to put one batch of accusations behind it.

The bank agreed to pay $575 million to all 50 states and the District of Columbia to settle civil charges related to the bank’s fake-accounts scandals.

The agreement, which applies to charges brought by states’ attorneys general, follows other fines and settlements Wells Fargo (WFC) has paid out since September 2016. That’s when the bank admitted its employees o...

A federal appeals court on Wednesday ruled that Blue Cross and Blue Shield insurers must defend themselves against a major class action case accusing them of anticompetitive practices on much less favorable legal grounds.

The 11th U.S. Circuit Court of Appeals upheld a federal district judge's April ruling that the combination of the Blues plans' exclusive territories, in which they agreed not to compete, and the agreement to limit competition on non-Blues branded products is a per se violation of the Sherman Antitrust Act.

The 11th Circuit panel's one-sentence m...

A federal judge could throw a wrench into the mega-merger between health giants CVS and Aetna. 

U.S. District Court Judge Richard Leon in Washington said this week he is considering delaying the $70 billion merger, and keeping the companies separate until he has a chance to weigh in. 

The move is unprecedented, as the companies were already in the process of integrating after their deal formally closed last week.

The Justice Department approved the merger in October under the condition that the companies sell Aetna’s Medicare drug business to preserve competition, and...

Deutsche Bank AG handled more questionable funds for Danske Bank A/S than previously estimated, the Financial Times reported, pulling the German lender deeper into the money-laundering scandal at the Danish bank.

In addition to an estimated $150 billion that the German company cleared for Danske’s Estonian branch, Deutsche Bank processed a further 31 billion euros ($35 billion), the newspaper said, citing a memo it obtained.

Deutsche Bank declined to comment. Danske Bank didn’t immediately respond to a request for comment.

The revelation may add to pressure on the Ger...

Deutsche Bank AG for now doesn’t plan to put more money aside for two recent money-laundering probes that have pushed the shares to a record low, according to a person familiar with the matter.

The bank’s headquarters were raided last week in a German investigation, and the lender has been drawn deeper into a separate money laundering scandal at Danske Bank A/S. But internal probes have found no wrongdoing in either case, the person said, asking not to be identified in discussing internal deliberations.

Higher reserves would diminish prospects for the bank’s first an...

Deutsche Bank (DBKGn.DE) defended its record in fighting money laundering on Thursday after the Financial Times reported it had processed 31 billion euros ($35 billion) more in questionable funds for Danske Bank (DANSKE.CO) than previously thought.

A Deutsche Bank spokesman declined to comment on the FT article. He said, however, that it was not Deutsche’s responsibility to vet Danske Bank’s customers and that business ties with the Danish bank had been cut in 2015.

The sum came on top of $150 billion Deutsche cleared for Danske’s Estonian branch from 2007-15, meanin...

The Federal Reserve rejected Wells Fargo's plan to prevent more consumer abuses by the embattled bank, adding it needs stronger checks on the company's management, Reuters reported citing three people with knowledge on the matter.

According to the report, the Fed thinks Wells Fargo needs to implement measures to significantly improve risk management and governance controls. Earlier this year, CEO Tim Sloan said Wells was "on the fast track" to meet the Fed's conditions.

Shares of Wells Fargo fell 1.3 percent following the news.

The report said Wells sent its original...

He says that won’t begin to cover the financial losses, and he can no longer even rent a home due to his credit.

Last month, Wells Fargo admitted in an SEC filing that it wrongly denied mortgage modifications to 870 eligible borrowers, resulting in 545 people losing their homes in foreclosure proceedings.

The company said at the time that it would set aside some money to compensate the victims, though how much exactly wasn't made clear.

Now, it appears that Wells Fargo is pinning the amount at about $25,000, according to one of the victims who is now going public with...

Restraints the Federal Reserve imposed on Wells Fargo's growth after a series of customer-exploitation cases haven't hurt its day-to-day operations or hindered its strategic goals, Chief Executive Officer Tim Sloan said.

"It's really not impacting our ability to serve our customers," the CEO said Tuesday during a financial services conference in New York organized by the investment bank Goldman Sachs. " And you know what, it's not really impacting what else we want to do. We're continuing to innovate. We're continuing to invest. We're continuing to hire really high...

In a two-day raid, the Frankfurt public prosecutor’s office and the Federal Criminal Police Office searched several Deutsche Bank offices, including its head office at Taunusanlage in Frankfurt, and questioned employees. The investigations concern the so-called “offshore leaks” and Panama Papers.

The public prosecutors’ investigations are directed against “two named and further unnamed employees of the bank on suspicion of aiding and abetting money laundering,” Deutsche Bank stated. “According to the public prosecutor’s office, the accusation against the accused is...

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