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Wells Fargo to pay $110 mln to settle lawsuit over account abuses
March 28, 2017 / 9:27 PM / 9 months ago

Wells Fargo to pay $110 mln to settle lawsuit over account abuses

March 28 (Reuters) - Wells Fargo & Co said it agreed in principle to pay $110 million to settle a lawsuit by customers challenging its opening of accounts without their permission, a practice that led to a scandal that cost the bank’s chief executive his job.

The bank said on Tuesday it expects the settlement to resolve claims in 11 other pending class actions.

The complaint was filed in May 2015 in the Northern District of California. (Reporting by Jonathan Stempel in New York and Nikhil Subba in Bengaluru; Editing by Shounak Dasgupta)

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