February 28, 2019
Carson City, NV – Nevada Attorney General Aaron D. Ford announced that Wells Fargo has begun its consumer redress review program as required by the $575 million settlement reached in December 2018, between Wells Fargo and the attorneys general of all 50 states and the District of Columbia. Through this program, consumers who have existing complaints that were not previously addressed can have those complaints reviewed by a Wells Fargo specialist for potential relief.
The settlement aimed to resolve claims that the bank violated state consumer protection laws by opening millions of unauthorized accounts and enrolling customers into online banking services without their knowledge or consent; improperly referring customers for enrollment in third-party renters and life insurance policies; improperly charging auto loan customers for force-placed and unnecessary collateral protection insurance; failing to ensure that customers received refunds of unearned premiums on certain optional auto finance guaranteed asset/auto protection (GAP) products; and incorrectly charging customers for mortgage rate lock extension fees.
“Through our settlement, consumers who are serviced by Wells Fargo have an opportunity to have a specialist review and assist them with their unique complaint,” said AG Ford. “This process will create an opportunity for consumers to have a one-on-one consultation with a specialist and may provide much-needed relief.”
As a key component of the settlement, Wells Fargo will maintain a website that contains information regarding consumers' eligibility for assistance. Wells Fargo's website describes the issues covered by the settlement agreement and provides contact information consumers may use to request review. Additionally, Wells Fargo will provide periodic reports to the states regarding ongoing remediation efforts. Consumers may access the program’s website at https://www.wellsfargo.com/commitment/redress/.
Consumers with questions or concerns regarding complaints that fall under the program may contact Wells Fargo at:
- Unauthorized Accounts / Improper Retail Sales Practices: 1-844-931-2273
- Improper Renters and Life Insurance Referrals: 1-855-853-9638
- Force-Placed Collateral Protection Auto Insurance ("CPI"): 1-888-228-9735
- Guaranteed Asset/Auto Protection ("GAP") Refunds: 1-844-860-6962
- Mortgage Interest Rate Lock Extension Fees: 1-866-385-5008
To view the states’ agreement with Wells Fargo, click here.