Nevada to receive $13.3M under settlement with Wells Fargo

Photo: MGN Online
Photo: MGN Online(WKYT)
Published: Dec. 28, 2018 at 10:23 AM PST
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Nevada stands to receive over $13.3 million from Wells Fargo & Co. under a

to resolve claims that the bank violated state consumer protection laws.

The state Attorney General's Office and Wells Fargo separately announced the settlement Friday, with Wells Fargo CEO and President Tim Sloan saying his company is making a "serious commitment to making things right in regard to past issues" while working "to build a better bank."

Nevada Attorney General Adam Laxalt said the settlement protects Nevadans from deceptive practices while holding Wells Fargo accountable for conduct that included opening millions of unauthorized accounts and enrolling customers into online banking services without their knowledge or consent.

Under the settlement, Wells Fargo will create a consumer redress review program.

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