Wells Fargo ups sales practices settlement to $142 million
Wells Fargo agreed Friday to expand a recently settled class-action lawsuit by an additional $32 million as well as extend claims for fraudulent accounts that may have been opened going back to 2002. The bank said it will now pay $142 million to customers for damages caused by any accounts opened without their customers’ permission. That’s on top of the $185 million that Wells Fargo was fined by federal and local authorities back in September. Wells also expanded its window for unauthorized accounts going back 15 years to customers as of May 1, 2002.