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A person familiar with the independent investigation told CNNMoney that the review likely will not conclude until the spring, and the results will be made public after that.The timeframe reflects the obvious challenges with probing the operations of a massive bank the size of Wells Fargo. As one of the biggest lenders in America, Wells Fargo has $1.3 trillion in deposits and more than 6,000 branches across the country.The person familiar with the Wells Fargo investigation said it’s a “massive effort” that now includes “many dozens” of lawyers from Shearman Sterling, the firm hired to assist the review.The investigation is a “wide ranging review” into all aspects of the sales issues, focusing on “what went wrong and who was responsible” as well as what policies and procedures need to be installed going forward, the person said.Related: Feds ‘tightening the straitjacket’ click here now around Wells FargoWhen the investigation was launched, Wells Fargo lead independent director Stephen Sanger promised it would be “thorough” and “follow the facts wherever they lead.”One development the board said it will review is a 2007 letter uncovered by CNNMoney that was addressed to former CEO John Stumpf warning of “widespread” fraud inside Wells Fargo. The letter seemed to predict the scandal that Wells Fargo is dealing with today.

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