Wells Fargo reaches $575 million settlement with all 50 states

Source: Kelsey Ramirez, HousingWire

It’s been a rough couple years for Wells Fargo as scandal after scandal is revealed.  The bank’s troubles began back in 2016 when it was discovered that the bank’s former employees opened as many as 2.1 million accounts without authorization in order to get sales bonuses.

Now, Wells Fargo has announced a $575 million settlement with all 50 state attorneys general and the attorney general for the District of Columbia regarding previously disclosed retail sales practices, auto collateral protection insurance and guaranteed asset/auto protection, and mortgage interest rate lock matters.

Read Full Article: Wells Fargo reaches $575 million settlement with all 50 states

 

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