US regulators fine Wells Fargo for aiding sanctions-busting


The Federal Reserve and the US Treasury fined commercial lender Wells Fargo a total of $97.8 million for helping a European bank evade sanctions.

The two regulators announced a civil settlement with the fourth-largest US bank on March 30.

The Treasury’s Office of Foreign Assets Control is fining Wells Fargo $30 million, citing its facilitation of 124 transactions with Syria, Sudan and Iran between December 2010 and December 2015. The transactions totalled around $532 million.

The Federal

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