Listen: Wells Fargo officials enter $240 million settlement over bogus accounts
"Big settlement for Wells Fargo. Let's get that. And all the business news from Jason Brooks KCBS super micro Intel money desk Wells Fargo is hoping to put its fake accounts scandal behind it. After Reuters reported a two hundred forty million dollars settlement between company officials, including CEO, Tim, Sloan and shareholders the settlement is being funded by the executives insurance companies at Reuters says it's the largest insurer funded cash settlement and a US shareholder derivative lawsuit. The San Francisco based Bank previously settled a securities fraud lawsuit with shareholders for four hundred eighty million dollars this week Wells Fargo disclosed that its various legal troubles could cost a two point seven billion dollars five hundred million dollars more than it expected at the end of two thousand"