Consumer Protection
CFPB orders Wells Fargo to pay $3.7 billion for widespread consumer abuses
Dec 20, 2022
CFPB ordered $2 billion in consumer restitution and $1.7 billion civil penalty for illegal practices across auto lending, mortgage servicing, and deposit accounts. Violations caused billions of dollars in financial harm including wrongful vehicle repossessions and home foreclosures.
Key Details
Agency
CFPB
Date
December 20, 2022
Severity
Critical
Penalty
$3700000000
Location
Corporate-wide
Domain
Consumer Protection