Reuters reports that Wells Fargo officials have reached a $240 million settlement in the case that accused the financial company of poor oversight, which resulted in the creation of millions of unauthorized customer accounts. The settlement which was disclosed on Thursday requires insurers for current and former Wells Fargo executives and directors to repay $240 million to the bank. The court filing indicated that the order is the largest insurer-funded cash settlement in a U.S. shareholder derivative case.

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