Minnesota customers of Wells Fargo who may have been hurt by the bank's fake-accounts practices exposed in 2016 can seek restitution from a program formed after several states sued the bank, said state Attorney General Keith Ellison on Friday.
As part of a settlement announced in December, Wells Fargo agreed to pay $575 million to states, including $9.3 million to Minnesota.
The bulk of that money is to be directed to customers who were hurt by unlawful actions and have not been covered by previous restitution efforts.
The bank now has taken the next step by starting a website where consumers who may be eligible for restitution can find out more information. Ellison joined other state attorneys general this week in publicizing the website, at www.wellsfargo.com/commitment/redress.
"The settlement was designed to make sure that Wells Fargo makes all their victims whole for their unlawful conduct," Ellison said in a statement.
The bank is required to provide updates to state attorneys general on the progress of restitution efforts.
The website describes the issues covered by the settlement agreement and provides phone numbers that consumers may use to request review of their situation.
In fall 2016, reports surfaced of Wells Fargo's intensely competitive internal environment that drove employees to create fraudulent accounts to meet goals for financial performance.
Several million such accounts were opened, including credit cards and online banking services that sometimes generated fees customers weren't expecting or had not authorized.
The practices extended to charging auto-loan customers for unnecessary collateral protection insurance and charging improper mortgage fees.
The resulting scandal led to the departure of the San Francisco-based company's top executives, an overhaul of its board of directors and numerous internal changes.
It also triggered multiple investigations and financial penalties. Wells Fargo paid a $1 billion fine to federal regulators and settled a lawsuit with investors for $480 million, in addition to the suit brought by state attorneys general.