New credit card applications and consumer borrowing trends can weight on an individual’s credit report.
Of the $190 million in the settlement, only $5 million will directly compensate customers, many of whom might have only paid a small fee on unwanted accounts.īut lawmakers said phony bank accounts might have hurt customer credit ratings, potentially increasing the cost of a mortgage or car loan. During the financial crisis, the bank trumpeted being a conservative bank in contrast with its rivals. The revelations are a severe hit to Wells Fargo’s reputation. Earlier this month, the lender agreed to pay $190 million in penalties and customer payouts to settle a case in which bank employees created credit, savings and other accounts without customer knowledge.
0 kommentar(er)
