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In its latest quarter, Wells Fargo’s $3.3 billion legal charge was offset by a $3.4 billion tax-cut boost

Eshe Nelson
In its latest quarter, Wells Fargo’s $3.3 billion legal charge was offset by a $3.4 billion tax-cut boost

Wells Fargo’s legal troubles are far from over. For the fourth quarter of last year, the US banking giant reported a $3.25 billion charge for litigation (pdf), relating to “mortgage-related regulatory investigations, sales practices, and other consumer-related matters.” That was up from a $1 billion hit in the previous quarter. In 2016, it was revealed…