September 2016: Wells Fargo Receives Heavy Fine
Updated February 11, 2017 | Infoplease Staff
Here's a slideshow depicting the major U.S. news events of September 2016.
1. Native Mosquitoes in Miami Test Positive for Zika 2. ITT Tech Closes its Doors 3. Wells Fargo Fined 4. U.S. Open Winners 5. Miss Arkansas Wins Miss America 6. NCAA Leaves North Carolina 7. U.S. and Israel Reach $38 Billion Deal 8. Government Recalls Samsung Note 7 9. Police Kill Tyre King in Columbus 10. Playwright Edward Albee Dies 11. Tensions Mount Over Dakota Access Pipeline 12. Police Kill Terence Crutcher in Tulsa 13. Bombs in New York and New Jersey 14. ISIS Claims Responsibility for Nine Stabbed at Minnesota Mall 15. Sound of Music's Charmian Carr Dies 16. Police Kill Keith Lamont Scott in Charlotte 17. Angelina Jolie Files for Divorce 18. Billionaire Leon Cooperman Charged with Insider Trading 19. Millions Are Compromised in Yahoo Hack 20. Man Armed with Shotgun Kills Five in Burlington, Wash. 21. Golf Legend Arnold Palmer Dies 22. Pitcher Jos Fernandez Dies in Boating Accident 23. Clinton v. Trump in First Presidential Debate 24. Police Kill Black Man in San Diego 25. Congress Denies Obama's Veto 26. School Shooting in South Carolina 27. Train Crash in Hoboken, New Jersey
- Wells Fargo Receives Heavy Fine
- On September 8, 2016, Wells Fargo is fined $190 million for pushing customers into fee-generating accounts that they did not request. Wells Fargo is currently the largest United States bank by market capitalization and has been envied in the banking industry for its ability to sell multiple products to the same customer. The fine is the largest ever levied by the Consumer Financial Protection Bureau; of the $185 million in penalties, the CFPB will receive $100 million. The remaining $5 million will go to customers affected by the scandal.
- Photo source: AP Photo/Ben Margot, File