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Richard Cordray

Trump says fines for Wells Fargo will not be dropped

President Donald Trump weighed in on an investigation into scandal-plagued Wells Fargo, tweeting Friday that fines and penalties against the bank would not be dropped, and may actually be "substantially increased."

Trump's statement comes a day after Reuters reported that Mick Mulvaney, the president's budget director and now acting director of the Consumer Financial Protection Bureau, was weighing whether the bank should have to pay tens of millions in fines already levied against it for mortgage lending abuses.

Wells Fargo, the nation's largest mortgage lender, has offered refunds to customers this year after acknowledging that its mortgage bankers unfairly...

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