Wells Fargo on Friday reached a $575 million settlement with all 50 states and the District of Columbia to resolve allegations it had engaged in various abuses of its customers, including opening millions of sham accounts they did not want.

The bank also improperly charged some customers mortgage fees and enrolled others into an auto insurance program they didn’t need, resulting in thousands of cars being repossessed, according to the settlement. Under the deal, the San Francisco bank must refund customers, though it does not specify how much.

The settlement ends wide-ranging investigations that began in 2016 when Wells Fargo acknowledged firing 5,000 employees for opening sham accounts customers didn’t want in order to meet the bank’s aggressive sales goals and qualify for bonuses.


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