What happened with the Wells Fargo Settlement?
You’ve likely heard about our recent settlements involving the opening of Wells Fargo unauthorized accounts and services for some of our customers.
We are deeply committed to serving you and your financial needs—and simply put—we did not live up to that commitment.
We’re taking action to make things right and to ensure that you only experience the very best from us moving forward.
The Wells Fargo commitment to helping those affected
We're refunding affected customers
and actively looking for any customers who may have accounts they didn’t ask for.
We’re notifying all deposit customers across the country
to invite them to review their accounts with their banker.
We called our credit card customers identified in the review
We began by calling 200,000 credit card customers to confirm whether they need or want their credit cards.
We are working with the credit bureaus to assess impacts to customers' credit scores.
Our goal is to make things right for customers whose other credit accounts were impacted by an unauthorized credit card.
We’ve established a dedicated 24/7 toll-free fraud investigation number
for any customer with a sales practices concern to contact us at 877-924-8697.
What we're doing to fix our sales practices
We eliminated product sales goals
for our retail bankers who serve customers in our bank branches, to make certain nothing gets in the way of doing what is right for our customers.
We added fraud protection measures to new customer accounts
We’ve increased transparency by making system and process enhancements, such as an automated emails that go out to every Wells Fargo customer after opening a consumer or small business checking or savings account to confirm what was opened, and a status letter that goes to those customers who have applied for a credit card.
We're expanding the fraud investigation review of accounts
to include 2009 and 2010, in addition to the account reviews we completed 2011 through 2015.
We're conducting an independent, enterprise-wide review of our sales practices.
If you haven't heard from us yet, feel free to review your accounts
Visit us in one of our branches or call our dedicated hot line 1-877-924-8697