Wells Fargo said it expects the CFPB settlement will cost it $3.5 billion before taxes in the fourth quarter. ‘Systemic failures’ According to the CFPB’s enforcement action, ...

Wells Fargo expects to book an expense of about $3.5 billion in its fourth quarter earnings, including costs from the CFPB penalty, customer remediation and litigation, the company said. It will ...

Wells Fargo will pay $3.7 billion to settle allegations by the Consumer Financial Protection Bureau that it mismanaged auto loans, mortgages and deposit accounts, in the largest penalty ever ...

The order also covered Wells Fargo's mortgage operations, which last year were part of a $250 million penalty from the Office of the Comptroller of the Currency. The CFPB said the bank wrongly denied ...

CFPB officials said Wells Fargo denied thousands of applicants modifications to their home loan over a seven-year period. Those denials caused some customers to lose their home in "wrongful ...

Wells Fargo on Tuesday agreed to a $3.7 billion settlement with the Consumer Financial Protection Bureau (CFPB) to resolve allegations against the banking giant for misapplied loans, wrongfully ...

In 2022, CFPB ordered Wells Fargo Bank to pay a $1.7 billion fine and more than $2 billion for repeated auto lending, mortgage and account deposit practices that harmed over 16 millions customers.

Wells Fargo said that the closed 2022 order marked its seventh consent order that bank regulators had closed since 2019. The CFPB said in a statement to Barron’s on Tuesday that it continues to ...

“The CFPB is ordering Wells Fargo to refund billions of dollars to consumers across the country. This is an important initial step for accountability and long-term reform of this repeat offender.” ...

Wells Fargo customers wronged by abuses that cost the bank $3.7 billion in fines are ... According to the CFPB, Wells Fargo acted unfairly by not refunding money when the loan terminated early ...

The CFPB filed its amicus brief on Monday, in a class action lawsuit before the Ninth Circuit Court of Appeals, alleging that Wells Fargo flouted its obligations to answer questions about two ...

The CFPB’s antiarbitration rule isn’t even in effect, yet government authorities (not class-action lawyers) required Wells Fargo to provide full restitution for consumers, fined the bank an ...