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On Tuesday, December 20th, 2022, markets were slightly up but remained flat overall after four consecutive days of decline. Wells Fargo agreed to a 3.7 billion dollar settlement with the Consumer Financial Protection Bureau for consumer abuses, including 1.7 billion in civil penalties and over 2 billion in consumer redress. The bank's illegal misconduct led to financial harm, with consumers losing vehicles, homes, and being charged illegal fees and interest. This settlement provides some justice for those affected, but highlights the significant impact on consumers.
