U.S. district judge approves $142M settlement in Wells Fargo fake accounts scandal


U.S. District Judge Vince Chhabria agreed Wednesday to give final approval on a $142 million class-action settlement in response to Wells Fargo & Co.'s fake accounts scandal. The years-long lawsuit, which began with a complaint originally filed May 13, 2015, played out in California's Northern District Court in San Francisco.

The settlement awards an average of $35 to customers who had created without their consent as bank employees sought to meet sales quotas. Wells Fargo says the unauthorized…

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