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ArticleWells Fargo to pay $72.6M for foreign currency exchange fraud
Wells Fargo Bank agreed to pay a total of approximately $72.6 million to resolve allegations it fraudulently overcharged hundreds of commercial customers who used the bank’s foreign exchange services.
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State Street to pay $382 million for foreign currency exchange fraud
State Street Bank and Trust Company has agreed to pay a total of $382.4 million to the United States to resolve allegations that it deceived some of its custody clients when providing them with indirect foreign currency exchange (FX) services. Jaclyn Jaeger reports.