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Fitch cuts outlook on Wells Fargo to 'negative'

Oct 4 Credit rating agency Fitch cut its rating outlook on Wells Fargo & Co to 'negative' from 'stable'.

Fitch said the cut reflected potential damage to the company's "earnings profile" following recent regulatory actions.

Wells Fargo staff opened as many as 2 million accounts in customers' names without their authorization, according to a $190 million settlement with regulators reached last month. (Reporting by Jessica Kuruthukulangara in Bengaluru)

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