Wells Fargo (WFC), U.S. DOJ Enter Settlement Over Repossessing Servicemembers' Cars

Wells Fargo (NYSE: WFC) Dealer Services and the U.S. Dept. of Justice have reached a settlement today over allegations of illegally repossessing servicemembers ' cars.

According to Bloomberg, Wells Fargo will pay a $60,000 civil penalty to the U.S. and will also pay $10,000 to each affected servicemembers.

The DOJ says 413 cars owned by servicemembers were affected.

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