Dec 20, 2022 · CFPB is ordering Wells Fargo Bank to pay more than $2 billion in redress to consumers and a $1.7 billion civil penalty for legal violations across several of its largest product lines.

Dec 20, 2022 · CFPB Orders Wells Fargo to Pay $3.7 Billion for Widespread Mismanagement of Auto Loans, Mortgages, and Deposit Accounts. Prepared Remarks of CFPB Director Rohit Chopra on the Wells Fargo Law Enforcement Action. Case docket. View case filings

Sep 8, 2016 · Wells Fargo will pay full restitution to all victims and a $100 million fine to the CFPB’s Civil Penalty Fund. The bank will also pay an additional $35 million penalty to the Office of the Comptroller of the Currency, and another $50 million to the City and County of Los Angeles.

Jan 17, 2023 · See the basics of CFPB’s enforcement action against Wells Fargo, the customers who were affected, and the practices that violated federal law.

Apr 20, 2018 · The Bureau found that Wells Fargo violated the Consumer Financial Protection Act of 2010 (CFPA) in the way it administered a mandatory insurance program related to its auto loans. The Bureau also found that Wells Fargo violated the CFPA in how it charged certain borrowers for mortgage interest rate-lock extensions.

Aug 22, 2016 · The CFPB’s order requires Wells Fargo to improve its consumer billing and student loan payment processing practices. The company must also provide $410,000 in relief to borrowers and pay a $3.6 million civil penalty to the CFPB.

Dec 20, 2024 · The CFPB alleges that Bank of America, JPMorgan Chase, Wells Fargo, and Early Warning Services violated federal law through critical failures including: Leaving the door open to scammers: Zelle’s limited identity verification methods have allowed bad actors to quickly create accounts and target Zelle users.

File No. 2022-CFPB-001 l In the Matter of: CONSENT ORDER WELLS FARGO BANK, N.A. The Consumer Financial Protection Bureau (Bureau) has identified the following violations of law at Wells Fargo Bank, N.A. (Respondent): (i) with respect to auto loan servicing, Respondent incorrectly applied loan payments,

WELLS FARGO BANK, N.A. The Consumer Financial Protection Bureau (Bureau) has reviewed the sales practices of Wells Fargo Bank, N.A. (Respondent, as defined below) and determined that it has engaged in the following acts and practices: (1) opened unauthorized deposit accounts for existing customers and transferred funds to those accounts from their

Dec 20, 2022 · In 2015, CFPB ordered Wells Fargo to pay $24 million in penalties for its role in an illegal mortgage kickback scheme. In 2016, it paid $4 million to the CFPB for scamming student loan borrowers. A few months later, the CFPB fined …