Preliminary Approval Granted To Settlement Of Class-Action Suit For Opening Unauthorized Accounts

A judge in the U.S. District Court for the Northern District of California granted preliminary approval to an agreement that would allow Wells Fargo to settle a class-action lawsuit ( Jabbari v. Wells Fargo, N.A., et al.) filed as a result of alleged retail sales misconduct.

The agreement would settle allegations that Wells Fargo employees opened numerous unauthorized accounts on behalf of customers in order to meet sales goals. In March 2017, Wells Fargo announced that it had agreed to settle the lawsuit for $110 million (see previous coverage). In response...

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