Program is Required by the Bank’s 50-State $575 Million Settlement, Which Was Co-Led by Attorney General’s Bureau of Consumer Protection
HARRISBURG – Attorney General Josh Shapiro today announced that, as required by its December 2018 settlement with Attorneys General of all 50 states and the District of Columbia for violations of consumer protection laws, Wells Fargo launched a consumer redress review program. The program is intended to give consumers who believe they were harmed by the bank’s conduct, but who fell outside the prior restitution programs, the option to contact Wells Fargo to be reviewed for potential redress.
Attorney General Shapiro’s Bureau of Consumer Protection co-led the investigation and negotiation of the $575 million settlement to resolve claims that the bank violated state consumer protection laws by (1) opening millions of unauthorized accounts and enrolling customers into online banking services without their knowledge or consent, (2) improperly referring customers for enrollment in third-party renters and life insurance policies, (3) improperly charging auto loan customers for unnecessary force-placed and collateral protection insurance, (4) failing to ensure that customers received refunds of unearned premiums on certain optional auto finance guaranteed asset/auto protection (“GAP”) products, and (5) incorrectly charging customers for mortgage rate lock extension fees. The consumer redress review program was a key component of this settlement.
“The consumer redress review program is an important avenue for consumers seeking the relief they are entitled to for Wells Fargo’s improper conduct,” said Attorney General Josh Shapiro. “I encourage Pennsylvanians with questions or concerns about the bank’s remediation programs to visit Wells Fargo’s website or call its escalation team. I am grateful for the hard work of my Bureau of Consumer Protection and Attorneys General across the country who came together to hold Wells Fargo accountable and change corporate conduct to protect consumers.”
As part of the redress review program, Wells Fargo will maintain a website for consumers with questions about their eligibility for relief to seek more information. Wells Fargo’s website describes the issues covered by the settlement agreement and provides escalation phone numbers consumers may use to request review. In addition, Wells Fargo will provide periodic reports to the states about its remediation efforts.
Consumers with questions or concerns may call the following Wells Fargo escalation phone numbers:
- Unauthorized Accounts / Improper Retail Sales Practices: 1-844-931-2273
- Improper Renters and Life Insurance Referrals: 1-855-853-9638
- Force-Placed Automobile Collateral Protection 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
The Bureau of Consumer Protection’s work on this investigation was led by Assistant Directors John M. Abel and Nicholas F. B. Smyth, and Deputy Attorney General Brandon Bingle.
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