We value your privacy. Wells Fargo agrees to pay $3.7 billion to Consumer Financial Protection Bureau over customer abuses, Wells Fargo agrees to $3.7 billion settlement with CFPB over consumer abuses, Here's what's next for bank stocks after the failure of First Republic, Markets and Politics Digital Original Video. Sign up for free newsletters and get more CNBC delivered to your inbox. If you consider yourself someone who washarmed by Wells Fargos actionsbetween 2011 and 2022, your payment depends on how you were wronged. Wells Fargo to Pay $500M to Settle GAP - Class Action Lawsuits Pete Williams is an NBC News correspondent who covers the Justice Department and the Supreme Court, based in Washington. A debt relief program is a method for managing and paying off debt. Remember: you are submitting your claimunder penalty of perjury. Under the terms of the settlement, Wells Fargo and Company, Wells Fargo Bank and plan trustee GreatBanc Trust Company agreed to pay $145 million, of which $131.8 million was allocated for eligible current and former 401(k) plan participants. Get the news you need delivered right to you. "Wells Fargo Fined $1B for Mortgage, Auto Lending Abuses. 2023 CNBC LLC. LIEFF CABRASER HEIMANN & BERNSTEIN LLP, JarrodD. Shaw "We take seriously the rights of customers, creditors, and investors, all of whom were harmed by this conduct, where the bank was making up sales activities to get a competitive advantage over its customers," a senior Justice Department official said. The agreement means a payout for any account holders affected by the scandal, all of whom were given about nine months to file for reimbursement. Some individuals who have contacted Wells Fargo to see if they have been affected, and those that were sent notice letters and checks, were assigned a Wells Fargo Home Preservation Representative to answer their questions. Well start sending you the news you need delivered straight to you. Wells Fargo on Tuesday said it's agreed to pay $3.7 billion in a settlement with the Consumer Financial Protection Bureau over accusations that it charged consumers illegal fees tied to auto loans and mortgages. Wells Fargo will also be required to stop charging surprise overdraft fees and ensure auto loan borrowers receive refunds for certain add-on fees. Requested URL: www.thepennyhoarder.com/make-money/quick-money/october-2021-class-action-settlements/, User-Agent: Mozilla/5.0 (Windows NT 10.0; Win64; x64; rv:102.0) Gecko/20100101 Firefox/102.0. Wells Fargo Merchant Services $40M Class Action Settlement Wells Fargo says it has already paid more than $33 million to Statutory Subclass Members between Feb. 22, 2019, and March 31, 2021, with individual payments averaging $316.87, according to the settlement agreement. YouTubes privacy policy is available here and YouTubes terms of service is available here. He has five years of professional editing, proofreading, and writing experience. Wells Fargo might owe you moneyhere's how to get it - MSN directory! According to the official statement by the CFPB, Wells Fargo has been the subject of multiple enforcement actions by the CFPB and other regulators for violations across its lines of business, including faulty student loan servicing, mortgage kickbacks, fake accounts, and harmful auto loan practices..