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  • Settlement Administrator Po Box 2594

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CLAIMS ADMINISTRATOR 5666 P.O. BOX 2594 FARIBAULT, MN 550219594F O R O F F I C I A L U S E O N LY03I MP O R TA N T L EG AL M ATERIAL S*0123456789*Page 1 of 2Wells Fargo Unauthorized Account Settlement.

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The CFPB's investigation found that Wells Fargo violated the Act's prohibition on unfair and deceptive acts and practices. The CFPB order requires Wells Fargo to: Provide more than $2 billion in redress to consumers: Wells Fargo will be required to pay redress totaling more than $2 billion to harmed customers.

If you hold one of three types of accounts with Wells Fargo, you may be entitled to a payment as part of a $3.7 billion settlement the bank made after a consumer protection watchdog found that Wells Fargo had broken federal consumer protection laws and used "illegal" practices when managing bank accounts, home loans ...

WASHINGTON — 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 applying overdraft fees against savings and checking accounts.

Bank account holders Likewise, those customers who were unfairly charged monthly fees despite the bank's advertised no fees for 10 or more purchases with their debit card. Wells Fargo must pay damages to some customers whose money was unfairly “frozen” for weeks when the bank suspected a single deposit was fraudulent.

Specifically, Wells Fargo will have to pay: More than $1.3 billion in consumer redress for affected auto lending accounts. More than $500 million in consumer redress for affected deposit accounts, including $205 million for illegal surprise overdraft fees.

For mortgage holders that were unable to modify their mortgages to avoid foreclosure, damages average $24,125 per claimant. For deposit accounts, customers average $100 in damages.

For automobile repossessions, compensation is “at least,” but is not limited to, $4,000. For mortgage holders that were unable to modify their mortgages to avoid foreclosure, damages average $24,125 per claimant. For deposit accounts, customers average $100 in damages.

Wells Fargo agreed to a $3.7 billion settlement with the Consumer Financial Protection Bureau over customer abuses tied to checking accounts, mortgages and auto loans, with some of the misconduct happening as recently as this year.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232