Navajo Nation settles lawsuit against Wells Fargo for $6.5M | KOB 4
Advertisement

Navajo Nation settles lawsuit against Wells Fargo for $6.5M

Navajo Nation settles lawsuit against Wells Fargo for $6.5M

The Associated Press
August 23, 2019 02:59 PM

WINDOW ROCK, Ariz. (AP) - The Navajo Nation has settled claims against Wells Fargo accusing the company of predatory and unlawful practices.

Advertisement

The tribe says Wells Fargo has agreed to pay $6.5 million, ending cases in federal and tribal court.

The tribe had accused bank employees of routinely misleading customers into opening unnecessary accounts and pushing elders into buying products to meet quotas.

The 10th U.S. Circuit Court of Appeals dismissed the case this week.

Wells Fargo has five branches on the reservation that stretches into New Mexico, Utah and Arizona, and 12 others close by.

The company says the settlement demonstrates its commitment to improving sales practices.

In December, Wells Fargo reached a $575 million settlement with state attorneys general and the District of Columbia that were investigating a string of dodgy practices.

Credits

The Associated Press

Copyright 2019 The Associated Press. All rights reserved.

Advertisement
Comment on Facebook

Share 4 - News Tips - Photos - Videos
  Share a News Tip, Story Idea, Photo, Video



Advertisement


Advertisement

Advertisement


APD cautions the use of local crime watch pages

Woman accidentally calls DA investigator to purchase walker

Bassan, Benton win seats in city council run-off election

City officials say ART bus memes help raise awareness

Some residents scared after someone shoots cars, windows with BB gun