Business several times misapplied loan costs, wrongfully foreclosed for the land and you may illegally repossessed vehicles, improperly reviewed fees and you may attract, energized surprise overdraft charges, with other illegal hobby affecting more 16 billion user accounts
Washington, D.C. The consumer Financial Safety Agency (CFPB) try purchasing Wells Fargo Lender to invest more $2 million for the redress to users and you may an effective $step 1.7 billion civil punishment to possess legal abuses round the a few of the biggest products. Brand new bank’s unlawful run contributed to vast amounts of cash within the economic harm to its people and you can, to possess tens and thousands of consumers, losing their vehicles and property. (more…)