Wells Fargo issued findings from an independent investigation into the bank's retail sales practices.
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Wells Fargo announced that it had agreed to pay $110 million to settle a class action lawsuit regarding retail sales practices.
Senate Banking Committee members questioned the CEO of Wells Fargo, and examined the regulatory response to the bank's opening of unauthorized accounts.
The House Financial Services Committee launched an investigation into the alleged opening of unauthorized accounts by a major financial institution. The Committee will review the roles of the CFPB and the OCC in overseeing this conduct.
The Consumer Financial Protection Bureau fined a bank $100 million for "the widespread illegal practice of secretly opening unauthorized deposit and credit card accounts."