"Biggest Fine Ever": Wells Fargo To Announce $1BN Settlement On "Risk Management"

In a story that sounds suspiciously similar to another report published by Reutersroughly two weeks ago, the Wall Street Journalsaid Thursday that Wells Fargo is nearing a $1 billion settlement on its risk management with the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency; that would be the largest fine ever levied by the CFPB.

The deal could be announced as soon as tomorrow, the WSJsaid, citing an unspecified number of "people familiar with the matter."