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Settlements could be announced Friday, according to the Times, which cited unnamed sources.
How much the settlements would cost Wells Fargo was not immediately known. But the bank has set aside $3.1 billion to pay legal costs, according to the Times.
|WFC||WELLS FARGO & COMPANY||28.63||+2.40||+9.15%|
In 2016, bank officials admitted that employees opened millions of bank accounts in their customers’ names, charging other customers unnecessary fees for loans and selling others unwanted insurance products, according to the Times.
Last month, ex-Wells Fargo executives including the former chief executive, John G. Stumpf were hit with the largest fines ever assessed by bank regulators.