The sign outside the Wells Fargo Co bank in downtown Denver The sign outside the Wells Fargo Co bank in downtown Denver Thomson Reuters WASHINGTON Reuters - The US consumer watchdog is seeking a record fine against Wells Fargo Co for auto insurance and mortgage lending abuses that could exceed several hundred million dollars according to three sources with knowledge of the plans The penalty would be the first issued by Mick Mulvaney who US President Donald Trump tapped in November to head the Consumer Financial Protection Bureau CFPB The fine would fulfill the presidents vow to hit the countrys third-largest lender hard Mulvaney is eyeing a penalty that would dwarf the 100 million the CFPB fined Wells Fargo in September 2016 to settle its phony accounts scandal said two sources familiar with the talks That 2016 fine had been the CFPBs largest ever Settlement terms have not been finalized but Mulvaney is pushing for a figure as high as 1 billion said two people with knowledge of the discussions The Office of the Comptroller of the Currency and Wells Fargo declined to comment A spokesman for the CFPB did not respond to a request for comment Reporting By Patrick Rucker Editing by Michelle Price and Meredith Mazzilli