Wells Fargo to pay $1.2M to Rhode Island under settlement
PROVIDENCE, R.I. (AP) — Wells Fargo will pay $1.2 million to Rhode Island to resolve claims that the bank violated state consumer protection laws.
Rhode Island Attorney General Peter Kilmartin said Rhode Island is part of a multistate settlement announced Friday by Wells Fargo.
Wells Fargo was accused of opening unauthorized accounts and enrolling customers into online banking services without their knowledge or consent.
Kilmartin says Rhode Island can use the settlement money for attorneys’ fees and other costs incurred in investigating Wells Fargo, for a consumer protection law enforcement fund or for other purposes — including future consumer protection efforts — at the discretion of the attorney general’s office.
Wells Fargo says it’s paying a total of $575 million to resolve civil claims.