Nevada to receive $13.3 M under settlement with Wells Fargo

Wells Fargo

< img class= "photograph" src=" /wp-content/uploads/2018/12/AP18362672230833_t653.jpg" alt

=” Wells Fargo” title= “Wells Fargo “/ > Richard Drew/ AP In this Might 17, 2018, file picture, the logo design for Wells Fargo appears above a trading post on the floor of the New York Stock Exchange.

Friday, Dec. 28, 2018|11:03 a.m.

CARSON CITY– Nevada stands to receive over $13.3 million from Wells Fargo & & Co. under a $575 million multistate settlement to fix claims that the bank violated state consumer protection laws.

The state Attorney general of the United States’s Office and Wells Fargo individually revealed the settlement Friday, with Wells Fargo CEO and President Tim Sloan saying his business is making a “serious dedication to making things right in regard to previous problems” while working “to develop a better bank.”

Nevada Chief Law Officer Adam Laxalt said the settlement safeguards Nevadans from deceptive practices while holding Wells Fargo liable for conduct that consisted of opening millions of unapproved accounts and enrolling consumers into online banking services without their understanding or consent.

Under the settlement, Wells Fargo will produce a consumer redress evaluation program.

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