You are here: Home » Reuters » News
Business Standard

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


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 ...

This article is no longer available in our repository.

There could be multiple reasons for this.

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