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Wells Fargo sees no end yet to sales scandal costs, gets tax boost

Reuters  |  NEW YORK 

By Meredith MazzilliNEW YORK (Reuters) - Wells Fargo & Co is not certain it has fully uncovered and fixed all problems related to a long-running sales scandal that has hurt the bank's reputation and sideswiped its efforts to cut costs, Chief Executive Tim Sloan said on Friday.The third-largest U.S. bank by assets set aside a $3.25 billion reserve to cover litigation related to fake accounts and other customer issues in its fourth-quarter earnings on Friday.The San Francisco-based company has been working to get to the bottom of its problems for more than a year, after reaching a $190 million ...

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First Published: Sat, January 13 2018. 01:58 IST
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