Wells Fargo: wrongful fees, repossessions and foreclosures

In December 2022 the US Consumer Financial Protection Bureau ordered Wells Fargo to pay more than $2 billion in redress to consumers and a $1.7 billion civil penalty, the largest the agency had ever imposed on a single financial institution. The CFPB found that the bank's practices harmed more than 16 million customer accounts.

According to the CFPB, the bank wrongly repossessed cars, charged improper fees and interest on auto loans and mortgages, wrongly denied mortgage modifications and charged surprise overdraft fees. Earlier, in 2020, Wells Fargo paid $3 billion to resolve criminal and civil investigations into the opening of millions of accounts that customers had not authorized.