Wells Fargo did more than kill the proverbial two birds with one proverbial stone when it agreed to pay $575 million to cover damages across all 50 states caused by the bank’s previously disclosed improper retail sales practices, as well as those pertaining to automotive insurance products and mortgage interest rate locks.
In addition to being the largest multistate settlement on record, the matter highlights which states were more affected by the company’s improper practices than others and how some states have chosen to use settlement proceeds to try and prevent consumers from falling victim to similar practices in the future.
Find out more details about what the settlement reveals.