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Home » Wells Fargo Auto to pay $1.3B in CFPB settlement 

Wells Fargo Auto to pay $1.3B in CFPB settlement 

The bank received a $3.7B order for conduct across auto, mortgage and deposits 

Amanda HarrisbyAmanda Harris
December 21, 2022
in Compliance
Reading Time: 3 mins read
0
Wells Fargo Auto originations tick up 4% YoY in Q1 2022

Photographer: Victor J. Blue/Bloomberg

Wells Fargo Auto is paying $1.3 billion to more than 11 million borrowers following a Consumer Financial Protection Bureau (CFPB) order that said multiple auto loan servicing system issues led to wrongful repossessions and incorrect fees.   The $1.3 billion is part of a $3.7 billion settlement announced today between the agency and Wells Fargo […]

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Tags: CFPBcompliancePremiumUDAAPWells Fargo
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