Scandal-plagued Wells Fargo expects legal bills to rise | American Banker

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Wells Fargo’s legal bills are likely to rise as the bank continues to deal with the fallout of a phony-sales scandal and a raft of other lawsuits and investigations.

The San Francisco-based bank disclosed Wednesday that as of Dec. 31, 2016, it could exceed its estimate for litigation losses by as much as $1.8 billion. That number was up from $1.7 billion at the end of September 2016 — shortly after the scandal first came to light — and up from $1.3 billion a year earlier.

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