TBA Law Blog

Posted by: Katharine Heriges on Apr 20, 2018
Wells Fargo has agreed to pay a $1 billion penalty for alleged violations of the Consumer Financial Protection Act, The Wall Street Journal reports. The settlement came from the bank's failures to catch and prevent problems like improper charges to consumers in its mortgage and auto-lending business. The bank also agreed to offer restitution to customers and improve internal practices to prevent future mishaps.