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Wells Fargo Chairwoman Resigns Ahead Of Scheduled Testimony

NEW YORK (AP) — Wells Fargo Board Chairwoman Elizabeth Duke and director James Quigley are leaving the company. The announcement Sunday arrived less than a month after the bank agreed to pay a $3 billion fine related to its long-running practice of opening unauthorized bank accounts to meeting unrealistic sales goals. Duke has served as

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Financial System Faces Biggest Test Since 2008 as Coronavirus Spreads

“To avoid huge accounting losses, which cut into capital, the effect would be to not lend, or to lend less,” said Joshua Ronen, an accounting professor at New York University. That could “paradoxically” hit the most cash-strapped borrowers, he said, since they are often the worst credit risk. Strains to the financial system could come

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