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Enterprise Information Roundup, Could 10

Banking

Wells owes

$97 million

Wells Fargo & Co. should pay $97 million to dwelling mortgage consultants and personal mortgage bankers who didn’t get the breaks they had been entitled to below California’s labor legal guidelines.

A federal choose in Los Angeles agreed with the bankers and consultants that their settlement needs to be primarily based not simply on hourly pay but in addition on their commissions. That bumped the damages nicely above the $25 million that the financial institution stated it owed.

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