Were You Harmed by Wells Fargo? Here's What You Need to Know

You will receive a refund, but you should still monitor the activity in your accounts

Were You Harmed by Wells Fargo? Here's What You Need to Know
September 14, 2016

Were you one of the thousands of Wells Fargo customers charged when a bank employee illegally opened an account for you without your knowledge or authorization? There is information you need to know.

First, Wells Fargo has been ordered by the Consumer Financial Protection Bureau (CFPB) to issue a full refund to you. The bank has already made some of these payments and will continue making them over the coming months.

All bank or credit union customers should keep an eye on their accounts to ensure there is no unauthorized activity. If you think an unauthorized account was opened on your behalf, call or go to your local branch. If your problem persists, you can submit a complaint to the CFPB online or by phone.

Wells Fargo must fully refund affected customers for the fees they were illegally charged by bank employees. These customers do not have to do anything to get their refund.

The CFPB fined Wells Fargo $100 million in addition to the refunds the bank must issue. Other government agencies also fined the institution.