Texas to get slice of Wells Fargo’s $575M payout for improper sales practices


Wells Fargo & Co. agreed Friday to pay $575 million to customers affected by its improper sales practices.

Those improper practices affected retail sales, auto collateral protection insurance (CPI), guaranteed asset/auto protection (GAP) and mortgage interest-rate lock matters, Wells Fargo said. The San Francisco-based bank reached the agreement with all 50 state attorneys general and the District of Columbia.

Texas will get about $47 million of the settlement, Attorney General Ken Paxton said in…

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