Wells Fargo will pay $575 million to resolve claims in all 50 states and the District of Columbia alleging the San Francisco-based bank violated consumer protection laws by opening millions of fake bank accounts for its customers. The bank also agreed to measures that will give its customers an extra level of protection by creating a customer restitution program, an announcement of the Dec. 28 agreement explained. Any Wells Fargo customers who haven’t been reimbursed through the restitution programs already in place at the bank can turn to a bank escalation team for relief. The settlement resolves claims that Wells Fargo ... Read More
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