March 1, 2019 Press Release

Press Release

Attorney General Ellison Announces Launch of Wells Fargo Consumer Redress Review Program

$575 million nationwide settlement requires Wells Fargo to make any remaining Minnesota victims whole

March 1, 2019 (SAINT PAUL) — Attorney General Keith Ellison today announced that Wells Fargo — as required by its December 2018 settlement with the attorneys general of all 50 states and the District of Columbia for violating consumer-protection laws — has launched a special redress-review program to refund and make whole any victims of Wells Fargo’s unlawful practices who have not already received relief. The program is intended to give consumers who believe they were harmed by the bank’s conduct but who were not covered by prior restitution programs the ability to be reviewed for potential redress.

As part of the settlement, Wells Fargo was required to pay $9.3 million to Minnesota, in addition to fines and penalties paid to federal regulators, to account for its deceptive and illegal practices. In addition, Wells Fargo was required to implement a redress-review program, which was a key component of the $575 million nationwide settlement.

“All Minnesotans deserve to afford their lives. Wells Fargo made that harder by hurting Minnesota consumers, and we held them accountable for that,” said Attorney General Ellison. “The settlement was designed to make sure that Wells Fargo makes all their victims whole for their unlawful conduct. The redress program is another step in achieving that goal.”

The 2018 settlement resolved Minnesota’s and other states’ claims that Wells Fargo:

  1. Opened millions of unauthorized accounts and enrolled customers into online banking services without their knowledge or consent;
  2. Improperly referred customers for enrollment in third-party renters and life insurance policies;
  3. Improperly charged auto-loan customers for unnecessary collateral protection insurance;
  4. Failed to refund customers unearned premiums on certain auto-finance products; and
  5. Charged customers for improper mortgage fees.

As part of the redress review program, Wells Fargo will maintain a website where consumers who may be eligible for relief can seek more information. The website describes the issues covered by the settlement agreement and provides escalation phone numbers that consumers may use to request review. Wells Fargo will also provide periodic reports to the states about its remediation efforts.

Consumers with questions or concerns may call the following Wells Fargo escalation phone numbers:

The states’ agreement with Wells Fargo can be found on the website of Pennsylvania Attorney General Josh Shapiro.