Wells Fargo
& Co. is close to settling claims by federal regulators related to its risk management, involving a fine of as much as $1 billion, people familiar with the matter said.
The settlement with the Consumer Financial Protection Bureau and Office of the Comptroller of the Currency is expected to be announced as soon as Friday. It will detail the bank’s failures to catch and prevent problems, including improper charges to consumers in its mortgage and auto-lending businesses, the people said.
The settlement also could include increased regulatory scrutiny of the bank’s compensation to…
