Besides stealing money from customers by creating fake accounts and then charging them fees, Wells Fargo is in trouble for repossessing 413 cars owned by US military service members. The bank did so without a court order, which violates federal law.
The Justice Department said the illegal repossessions took place from 2008 to 2015. The first complaint came from an Army National Guardsman in North Carolina who said the bank seized his car while he was preparing to deploy to Afghanistan.
Wells Fargo then auctioned his car and tried to collect a balance of $10,000 from his family, the Justice Department said.
The bank will pay $10,000 to each of the affected service members, plus lost equity in the cars with interest, and repair their credit.