Wells Fargo Expands Class-Action Settlement for Retail Sales Practices to $142 Million, Adds Accounts as Early as May 2002
“The expansion of this agreement is another important step to make things right for our customers,” said
The settlement builds on ongoing remediation efforts
After attorneys’ fees and costs of administration, the
Customers who were charged fees in connection with unused, unauthorized accounts from
Remediation Efforts Continue
This settlement is in addition to other remediation efforts that
To make things right with customers who were impacted by sales practices issues,
Customers should contact
Next Steps
The settlement agreement must be approved by the court. If the court grants preliminary approval of the settlement agreement, a notice will be issued providing information concerning the process for making claims, and customers who believe they should be included in this suit will be able to submit claims. The court also will need to grant final approval of the settlement before payments will be made to class members. In the meantime, customers do not need to take any action; however, as always, they are encouraged to contact
About
Cautionary Statement About Forward-Looking Statements
This news release contains forward-looking statements about our future financial performance and business. Because forward-looking statements are based on our current expectations and assumptions regarding the future, they are subject to inherent risks and uncertainties. Do not unduly rely on forward-looking statements as actual results could differ materially from expectations. Forward-looking statements speak only as of the date made, and we do not undertake to update them to reflect changes or events that occur after that date. For information about factors that could cause actual results to differ materially from our expectations, refer to our reports filed with the
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