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Wells Fargo settlement payment program now online Kentuckians who qualify for possible relief can now visit Wells Fargo website for assistance: wellsfargo.com/commitment/redress. The site describes the issues covered by the settlement agreement and provides escalation team contact information. By Terry Sebastian/Crystal Staley Frankfort, KY - Attorney General Andy Beshear said Kentuckians who have not been made whole through previous Wells Fargo settlement remediation programs can now register a complaint with Wells Fargo for possible relief. Wells Fargo's redress review program is part of a $575 million December 2018 settlement with attorneys general of all 50 states and the District of Columbia to resolve consumer protection law violation claims. Now Kentuckians involved in the bank's retail sales practices, renters or simplified term life insurance referrals, collateral protection insurance, Guaranteed Asset/Auto Protection and mortgage interest rate lock programs can visit Wells Fargo's website to determine refund or compensation eligibility. Kentucky received a $2.8 million portion for the state's General Fund. The site describes the issues covered by the settlement agreement and provides escalation team contact information. "This settlement was not only one of the largest multi-state settlements with a bank, but also a settlement that will help ensure better banking standards for our Kentucky families," Beshear said. "Wells Fargo is being held accountable to the people of Kentucky by providing the redress review program that helps ensure their questions are answered and that they are repaid." The settlement resolves claims that Wells Fargo violated Kentucky consumer protection laws by imposing aggressive and unrealistic sales goals on bank employees, and implementing an incentive compensation program where employees could qualify for credit by selling certain products to customers. It's alleged that the bank:
This story was posted on 2019-03-01 06:03:22
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