AP NEWS

Connecticut to receive $5.2 million in bank settlement

December 28, 2018

HARTFORD, Conn. (AP) — Connecticut will receive more than $5.2 million from a multi-state legal settlement with a national bank.

Attorney General George Jepsen on Friday announced the $575 million agreement between all 50 states and Washington, D.C. and Wells Fargo Bank N.A. He says it resolves claims that the bank violated state consumer protection laws by opening millions of unauthorized accounts without customers’ knowledge or consent, among other improper acts.

He says the settlement also creates “an important avenue for Connecticut consumers seeking redress for the bank’s improper conduct.”

Connecticut’s share of the settlement will be deposited into its main spending account

Wells Fargo CEO and President Tim Sloan says the agreement “underscores our serious commitment to making things right in regard to past issues as we work to build a better bank.”

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