As part of a $575 million settlement between Wells Fargo and attorney generals from all 50 states and the District of Columbia, Louisiana will receive a little more than $1.9 million by the end of next week, the Office of the Louisiana Attorney General says.
As WAFB-TV reports, news first broke in 2016 that Wells Fargo employees allegedly opened millions of fake, unauthorized bank accounts using customer’s personal information in order to meet aggressive sales goals.
The company later acknowledged reports that it sold auto insurance and other financial products to customers who didn’t need them, according to The Associated Press. Those revelations led to several layoffs and restructuring of operations which will continue over the next three years. Read the full story.