Economy

IA and MN to get millions in Wells Fargo settlement

IA and MN to get millions in Wells Fargo settlement

"This agreement is unique and one of the largest multistate settlements with a bank since the National Mortgage Settlement in 2012", says Iowa Attorney General Tom Miller.

California, the bank's home state, will get more than a quarter of the settlement funds because of the number of Wells Fargo customers residing there.

The attorney general's office stated that Wells Fargo entered into the settlement over alleged unfair and deceptive trade practices. "This settlement should send a message to all financial institutions that they need to take steps to avoid similar consumer protection violations, because we stand ready to hold the financial industry accountable".

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Amazon's Kids Edition devices did especially well, it says, including Echo Dot Kids Edition and Fire Kids Edition tablets. Customers worldwide ordered more items than ever from Amazon this holiday season, the company announced Wednesday.

Opening millions of unauthorized accounts and enrolling customers into online banking services without their knowledge or consent.

The settlement also requires the bank to create a redress program for consumers not covered by a previously announced restitution program.

Improperly charged premiums, interest, and fees for force-placed collateral protection insurance to more than two million auto financing customers, despite evidence that the customers' regular auto insurance policy was in effect, and despite numerous customer complaints about such unnecessary placements. The remediation will include payments to over 51,000 customers whose cars were repossessed.

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Trump also threatened to cut off aid to Honduras, El Salvador and Guatemala, countries from which many migrants have fled. But Democrats largely oppose Trump's proposed wall, which he had initially said would financed by Mexico .

Finally, the states alleged that Wells Fargo improperly charged residential mortgage consumers for rate lock extension fees. "This is an incredible breach of trust that threatens not only the customer who depended on Wells Fargo, but confidence in our banking system".

More than $35 million of Arizona's cut will go into state accounts established to strengthen consumer protection efforts, with $2 million going to cover attorneys' fees and investigation costs. "Fortunately, both federal and state authorities have interceded to remedy Wells Fargo's misconduct".

And in October, Wells Fargo agreed to pay a $65 million penalty to NY state related to the fake-accounts scandals.

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He was later sent off for a unsafe challenge on Pereira in the dying minutes of the game. Even if we beat Liverpool now it won't be easy.

The $17 million Wells Fargo payout to New Jersey is the sixth highest amount recovered among all jurisdictions participating in the multi-state settlement.


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