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Wells Fargo to pay $110 million to settle lawsuits over unauthorized accounts

Wells Fargo to pay $110 million to settle lawsuits over unauthorized accounts

In the six months since Wells Fargo & Co. acknowledged opening millions of accounts customers didn’t authorize, the bank has junked its old sales incentives, replaced its chairman and chief executive, and paid $185 million in fines.

Bank customers, meanwhile, have received just $3.2 million in refunds. But soon they’ll be in line for much more.

On Tuesday, the bank agreed to pay $110 million to settle a class-action lawsuit filed two years ago, a deal that could also put to rest 11 other class-action cases, many filed after the bank’s practices were thrown into the national spotlight last September.

The settlement, if approved by a federal judge in San Francisco,...

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