Wells Fargo expects more remediation on deposit accounts as legal costs rise

//Wells Fargo expects more remediation on deposit accounts as legal costs rise

Wells Fargo expects more remediation on deposit accounts as legal costs rise

Wells Fargo & Co. (NYSE: WFC) is investigating two issues with its consumer deposit accounts — both of which will likely come with payouts to regulators and/or those affected. The bank said it is reviewing past disclosures to customers about the minimum qualifying debit-card usage required to waive service fees on the accounts. Customers were confused about the types of transactions that counted toward the minimum, Wells Fargo said. "We expect to refund certain monthly service and related fees…

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By | 2019-05-05T11:00:00+00:00 May 5th, 2019|Economics|

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