Court approves Wells Fargo’s $480 million settlement for allegedly lying about fake accounts

Court approves Wells Fargo’s 0 million settlement for allegedly lying about fake accounts
Wells Fargo will pay $480 million to a group of the bank’s shareholders as part of a class action settlement for allegedly lying about the sales practices that led to the bank’s massive fake accounts scandal. The shareholders claimed that the bank and its executives made “misrepresentations and omissions” about the bank’s “cross-selling” business model, where bank employees were rewarded for getting customers to open up multiple accounts.
Source: https://www.housingwire.com/rss