North Dakota gets $1.2 million in Wells Fargo settlement
BISMARCK, N.D. (AP) — North Dakota’s portion of a nationwide settlement with Wells Fargo is $1.2 million.
Overall, the bank is paying $575 million in a settlement with attorneys general from all 50 states and the District of Columbia that are investigating fake accounts opened without the knowledge of customers and a string of other questionable practices.
The bank has been under a cloud since 2015 when it acknowledged that employees had opened millions of fake bank accounts for customers in order to meet sales goals. It has also said that it sold auto insurance and other financial products to customers who didn’t need them.