wells_fargo_bank_521395962-02Wells Fargo to pay $24M over military loan violations


This is a thehill.com article.


Wells Fargo will pay more than $24 million to settle allegations that it broke the law by improperly repossessing cars from military service members, federal regulators said Thursday.

The Office of the Comptroller of the Currency and the Department of Justice said their investigations found violations that took place at the bank for more than seven years, through 2015.

The DOJ launched an investigation last year after receiving a complaint from the United States Army saying that Wells Fargo repossessed a used car owned by a National Guardsman in North Carolina. According to the complaint, the bank sold the car at public auction.

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