Wells Fargo to pay $16.2 Million in suit regarding kickbacks

Wells Fargo has agreed to pay $16.2 million to resolve a class-action lawsuit which accused the bank of accepting kickbacks from a title company in exchange for business referrals. This deal marks the second occurrence, as last year, Wells Fargo and JP Morgan Chase were ordered to pay almost “$36 Million for a kickback scheme involving the same title company.

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