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Why Wells Fargo’s CEO says it will take months to fix fake accounts

Wells Fargo CEO Tim Sloan says it will take months to unravel much of the damage done to customers who were affected by the San Francisco bank’s fake accounts scandal earlier this year.

Wells Fargo agreed last September to pay customers who were affected by its aggressive sales tactics as much as $5 million in renumeration, as well as shell out $185 million in penalties for as many as 2 million bogus accounts it created.

Now, Sloan says that the process of determining whether or not a possibly…

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This article was syndicated from: Sacramento Business News - Local Sacramento News | The Sacramento Business Journal - Click here to read the original article