Wells Fargo to pay $3.7B over consumer law violations
Headline from Arkansas Democrat-Gazette
Consumer banking giant Wells Fargo agreed to pay $3.7 billion to settle a laundry list of charges that it harmed consumers by charging illegal fees and interest on auto loans and mortgages, as well as incorrectly applied overdraft fees against savings and checking accounts.
Arkansas Democrat-Gazette's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.
Consumer banking giant Wells Fargo agreed to pay $3.7 billion to settle a laundry list of charges that it harmed consumers by charging illegal fees and interest on auto loans and mortgages, as well as incorrectly applied overdraft fees against savings and checking accounts.
The Consumer Financial Protection Bureau on Tuesday ordered Wells Fargo to repay $2 billion to consumers and enacted a $1.7 billion penalty against the bank.
