Wells Fargo Settles $6 Million Lawsuit With Navajo Nation
WELLS FARGO AGREES TO PAY THE NAVAJO NATION $6.5 MILLION TO SETTLE A 2017 LAWSUIT
(CNN) – Wells Fargo will be paying the Navajo nation millions of dollars because of alleged shady sales tactics.
The bank has agreed to pay the Native American tribe $6.5 million to settle a 2017 lawsuit.
The suit alleges Wells Fargo preyed on members of the Navajo using “predatory” practices.
Their alleged tactics include opening up fake accounts and pressuring non-English-speaking elderly people to enroll in unnecessary services.
The Navajo nation spans three states, Arizona, New Mexico, and Utah.
Wells Fargo is the only national bank in their territory as of 2017.
In a statement, the bank said the agreement, “demonstrates our commitment to make things right.”