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Wells Fargo repays $5.4 million for repossessing service members' cars

Reuters 

By Jonathan Stempel(Reuters) - Wells Fargo & Co has repaid another $5.4 million to about 450 military service members whose vehicles it repossessed illegally, the U.S. Department of Justice said on Tuesday.The third-largest U.S. bank has now repaid about $10.2 million to roughly 860 service members and their co-borrowers for improper repossessions, under a settlement announced in September 2016.Other violations covered by that settlement were discovered more recently, leading to the latest payout, the Justice Department said.Wells Fargo was also fined $20 million in September 2016 by the ...

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First Published: Wed, November 15 2017. 05:04 IST
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