MO to receive millions from Wells Fargo Bank settlement

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The state of Missouri will soon be receiving millions of dollars from a national bank settlement.

Missouri Attorney General Josh Hawley’s Office says the Wells Fargo Bank of North America is paying millions of dollars nationwide for violating state consumer protection laws. According to hawley, the company has identified more than $3.5 million accounts where customer accounts were opened, funds were transferred, credit card applications were filed, and debit cards were issued without customers’ knowledge or consent.

The total amount that the company has to pay is $575 million dollars, with Missouri’s portion of that settlement to be just more than $5.6 million dollars. But Hawley’s office hasn’t said what that money will be used for.

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