wells fargo settlement News

Wells Fargo Settles Auto Insurance Scam for $385 Million

Wells Fargo & Co. agreed to pay at least $385 million to customers who say they were signed up for auto insurance without their knowledge or consent when they took out a car loan. Terms of the proposed settlement, which …

Wells Fargo CEO Grilled at Congressional Hearing Probing Customer Abuse Scandal

Democratic and Republican lawmakers on Tuesday pressed Wells Fargo & Co Chief Executive Tim Sloan for proof the bank has put a string of consumer abuse scandals behind it at a tense congressional hearing that saw Sloan firmly on the …

Wells Fargo to Pay States $575 Million in Sales Abuse Claims

Wells Fargo & Co. will pay $575 million to settle claims made by U.S. states that the bank created phony accounts and committed other customer abuses, according to a statement by the Iowa attorney general’s office. Two years ago, Wells …

Wells Fargo Seeks to Limit Payout for Faulty Auto Insurance Plan

Wells Fargo & Co. is fighting to shut some customers out of a sweeping plan to compensate around 600,000 drivers it pushed into car insurance they did not need, according to court documents and a source familiar with the effort. …

Wells Fargo Gets OK on $142M Settlement with Customers Over Phony Accounts

Wells Fargo & Co. said on Friday it received final approval from a district court in California to settle a $142 million class-action lawsuit, which compensates customers affected by a sales scandal related to phony bank accounts. The settlement, in …

Wells Fargo to Pay $480M to Settle Investors’ Suit Over Fake Accounts

Wells Fargo & Co. agreed to pay $480 million to settle a class-action lawsuit in which investors accused the bank of securities fraud related to its fake-account scandal. The settlement resolves the main class-action suit brought by shareholders targeting the …

Wells Fargo’s Additional Fake Accounts Could Jeopardize $142M Settlement

Wells Fargo & Co.’s disclosure Thursday that employees may have opened significantly more unauthorized accounts than previously stated could jeopardize a $142 million class-action settlement with customers that won preliminary approval from a judge in July. The scandal that helped …

Wells Fargo Nears $142 Million Consumer Settlement Over Fake Accounts

A California judge has granted a preliminary approval for Wells Fargo & Co.’s agreement to pay $142 million, and perhaps more, to customers whose credit scores were harmed by its employees creating fake accounts in their names, the bank said …

Wells Fargo Settles Sham Account Claims for $110 Million

Wells Fargo & Co. said it agreed to pay $110 million to settle a lawsuit by customers challenging its opening of accounts without their permission, a practice that led to a scandal that cost the bank’s chief executive his job. …