Wells Fargo said it expects to refund certain fees paid on debit-card accounts as it reviews disclosures that may have confused customers.
Wells Fargo & Co. said it expects to refund certain fees paid on debit-card accounts as it reviews disclosures that may have confused customers.
The bank has “made improvements on how we communicate all of the ways customers qualify for a monthly service waiver, and how they can track their progress,” spokesman Jim Seitz said in an emailed statement. “We have also taken action to address potential confusion in the past about how to qualify for a fee waiver through debit-card use.”
in the face of mounting political, regulatory and investor scrutiny. Allen Parker, the bank’s general counsel, is interim CEO while the board searches for its next leader.millions of unauthorized accounts The company said in Friday’s filing that it is still in early talks with the U.S. Justice Department and Securities and Exchange Commission to resolve investigations related to sales practices with “no assurance as to the outcome,” after announcing the negotiations in February.
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