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Fly News Breaks for September 12, 2018
WFC
Sep 12, 2018 | 07:40 EDT
According to Reuters, Office of the Comptroller of the Currency regulators have rejected Wells Fargo's plan to repay its auto customers who were pushed to buy unnecessary auto insurance, JPMorgan analyst Vivek Juneja tells investors in a research note. This rejection would be a negative for Wells as it may be required to spend more and take more time to satisfy regulators, the analyst writes. He also views the news negatively overall for the bank's ongoing regulatory issues. Juneja reiterates an Underweight rating on shares of Wells Fargo.