The bank continues to deal with fallout from a years-old scandal.
to settle a lawsuit, in which the tribe accused it of “predatory and unlawful practices,” as the bank struggles to recover its reputation following a nationwide scandal.
In the original complaint, the Navajo Nation claimed Wells Fargo opened accounts in the names of their tribal members without their consent, specifically by taking advantage of the elderly, or those who do not speak fluent English.in the Navajo’s tribal land, which spans parts of Arizona, Utah, and New Mexico.
A federal court dismissed the Navajo Nation’s lawsuit in September. The tribe appealed the following month. Wells Fargo said in a statement Thursday that the settlement shows its “commitment to make things right regarding past sales practices issues.”“Wells Fargo’s predatory actions defrauded and harmed the Nation.
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