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Labor Department will probe Wells Fargo; CEO forfeiting $41 million in stock

Secretary of Labor Tom Perez on Tuesday said he would initiate a "top-to-bottom" review of labor practices at disgraced bank Wells Fargo — coming as CEO John Stumpf agreed to forfeit $41 million over a brewing sales scandal. Perez was responding to a letter from eight Democratic senators who had requested a probe into whether Wells Fargo — one of the nation's largest banks — had violated wage and working hour laws by failing to pay overtime to tellers and sales representatives who stayed late to meet sales quotas.
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