The Consumer Financial Protection Bureau today ordered Wells Fargo to pay more than $3.7 billion over "legal violations across several of its largest product lines," including home mortgages, according to the CFPB. Of the total, more than $2 billion is to redress more than 16 million consumer accounts while $1.7 is a civil fine.

"The bank's illegal conduct led to billions of dollars in financial harm to its customers and, for thousands of customers, the loss of their vehicles and homes," the CFPB said. "Consumers were illegally assessed fees and interest charges on auto and mortgage loans, had their cars wrongly repossessed, and had payments to auto and mortgage loans misapplied by the bank. Wells Fargo also charged consumers unlawful surprise overdraft fees and applied other incorrect charges to checking and savings accounts."

GlobeSt.com reached out to Wells Fargo. A spokesperson replied: "As we've said before, the new leadership team has been working to address issues and, as part of that work, we identify items or areas of potential concern. To the extent issues are identified, we remediate as appropriate."