CFPB Slaps Wells Fargo for $3.6 Million for Student Loan Practices
Wells Fargo impaired student loan borrowers from minimizing costs and fees, misrepresented the value of making partial payments, charged illegal late fees, and failed to correct inaccurate information reported to credit bureaus. In addition to the hefty fine, the bank has been ordered to pay $410,000 in consumer refunds. [8/23/16]