The states alleged that Wells Fargo imposed aggressive and unrealistic sales goals on bank employees and implemented an incentive compensation program in which employees could qualify for credit by selling certain products to customers

Specifically, the settlement resolves claims that Wells Fargo:

• opened millions of unauthorized accounts and enrolled customers into online banking services without their knowledge or consent
• improperly referred customers for enrollment in third-party renters and life insurance policies
• improperly charged auto loan customers for force-placed and unnecessary collateral protection insurance
• failed to ensure that customers received refunds of unearned premiums on certain optional auto finance products
• incorrectly charged customers for mortgage rate lock extension fees

As part of a settlement involving all 50 states and the District of Columbia, Indiana will receive $5.2 million.

“Such grossly unfair and deceptive trade practices as those demonstrated by Wells Fargo must never be allowed to stand,” Attorney General Hill said. “We must continue working tirelessly to hold companies accountable for engaging in blatant misconduct that harms consumers.”

The state of Illinois will receive $10.8 million and Kentucky will receive $3.67 million.

As part of the settlement, Wells Fargo will also create a consumer redress review program through which consumers who have not been made whole through other restitution programs already in place can seek review of their inquiry or complaint by a bank escalation team for possible relief.