About the case
Wells Fargo paid $142 million to resolve claims from customers whose names were used to open unauthorized deposit and credit-card accounts between 2002 and 2017. The settlement covered customers who alleged that bank employees opened accounts, credit cards, lines of credit, or identity-protection products without proper consent. The case became a reference point for later banking-conduct litigation because it combined private class-action relief with parallel regulatory scrutiny. For readers, the important distinction is that the class-action settlement addressed customer compensation for the unauthorized-account practices, while separate enforcement actions dealt with broader penalties and compliance obligations.