Iowa will get $6.18 million under Wells Fargo settlement
DES MOINES, Iowa (AP) — A settlement between Wells Fargo and attorneys general from all 50 states will mean more than $6 million for Iowa.
Wells Fargo and the attorneys generals announced the settlement Friday following an investigation into fake accounts opened without the knowledge of customers and other questionable practices.
Besides paying $575 million to the states and the District of Columbia, Wells Fargo agreed to respond to customer complaints about its banking and sales practices.
Iowa Attorney General Tom Miller says the state’s share of the settlement will be $6.18 million. The money will go to Iowa’s Consumer Education and Litigation Fund.