BZ Blog

CFPB Requests Wells Fargo to spend $step three.7 Mil to have Prevalent Mismanagement of Automotive loans, Mortgage loans, and you will Put Accounts

Company repeatedly misapplied mortgage payments, wrongfully foreclosed on the home and you can illegally repossessed auto, incorrectly assessed fees and notice, energized wonder overdraft charge, together with other illegal interest affecting more sixteen million user levels

Washington, D.C. – The consumer Financial Defense Agency (CFPB) is ordering Wells Fargo Lender to invest over $2 mil into the redress in order to people and you may a great $1.eight million municipal penalty to have court abuses all over several of its prominent product lines. The new bank’s illegal make led to huge amounts of bucks within the monetary damage to their customers and you can, to own a great deal of people, the loss of its auto and property.

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