Wells Fargo and the attorneys who filed the case will submit a settlement plan to the judge next month. Wells Fargo has identified about 2.1 million accounts that might have been unauthorized, and it has paid refunds of fees paid on about 130,000 unauthorized accounts. But the settlement applies to accounts created as early as 2009, so the number of potentially unauthorized accounts could be higher. In a statement, Wells Fargo said settlement funds would be distributed based in part on “the number and kinds of unauthorized accounts.”What happens next? james.koren@latimes.comFollow me: @jrkorenALSOWells Fargo cuts pay for CEO and other top executives after scandalColumn: No surprise: Wells Fargo is leveraging its arbitration clause to win an advantageous scandal settlementTwo Southern California executives out at Wells Fargo amid stream of departures

Source: Los Angeles Times March 31, 2017 20:57 UTC