FRANKLYWNOW - Wells Fargo agrees to $50 million settlement

Wells Fargo agrees to $50 million settlement

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Wells Fargo has agreed to pay $50 million in a new settlement.

This time, the banking giant is accused of overcharging homeowners for appraisal fees.

Those fees are typically 30 dollars or less, but Wells Fargo was charging at least three times that amount.

The fees were oftentimes listed as "other charges."

A spokesman for Wells Fargo insists the bank did not do anything wrong, but that the company wants to avoid a long litigation process.

This news comes almost two months after another major scandal at Wells Fargo, where bank employees opened millions of phony accounts without customers' permission in order to boost their sales numbers.
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