Wells Fargo reaches US$110m settlement
SAN FRANCISCO: Wells Fargo & Co reached a US$110 million (RM486 million) settlement with customers over claims its employees set up fraudulent accounts to boost their own pay. Wells Fargo agreed six months ago to pay US$185 million in fines and penalties as part of a settlement with federal regulators and the
Los Angeles city attorney’s office. The bank didn’t admit or deny wrongdoing as part of that agreement. The deal covers dozens of suits filed across the country.