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Wells Fargo Crashes After Fed's Shocking Crackdown Bans Bank From Growing

Wells Fargo may be Warren Buffett's favorite bank, but the endorsement of America's favorite benevolent plutocrat hasn't spared it from an unusually severe punishment (as far as too big to fail banks go). Two hours after markets closed on Federal Reserve Governor Janet Yellen's last day in office, the central bank announced sanctions against Wells for a host of consumer and oversight abuses dating back to its infamous cross-selling scandal, that saw bank branch employees open millions of fraudulent accounts in customers' names.
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