money 01Settlement approved: Wells Fargo customers will get $50 million for overcharged mortgage fees


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Borrowers who had a mortgage serviced by Wells Fargo between May 6, 2005 and July 1, 2010 will soon receive their share of a $50 million settlement stemming from allegations that Wells Fargo overcharged borrowers for Broker Price Opinions during that period.

The settlement, which was initially announced in October, stems from a class action lawsuit against Wells Fargo that claimed that the bank violated the law by charging borrowers more than the amount Wells Fargo paid for BPOs.

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