Wells Fargo (WFC) Said to Face U.S. DOJ Sanction Over Improper Seizing of Soldiers' Cars

September 29, 2016 12:17 PM EDT

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(Updated - September 29, 2016 12:24 PM EDT)

Wells Fargo (NYSE: WFC) said to face U.S. DOJ sanction on seizing soldiers' cars, according to Bloomberg.

UPDATE - The report has federal regulators and the Office of the Comptroller of the Currency looking to come down on Wells Fargo over alleged violations of the Servicemembers Civil Relief Act.

The OCC may levy a penalty of as much as $20 million, an unusually large one for the law.

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