A California judge has granted a preliminary approval for Wells Fargo & Co.’s agreement to pay $142 million, and perhaps more, to customers whose credit scores were harmed by its employees creating fake accounts in their names, the bank said on Sunday.
Wells Fargo has set aside that money to compensate customers who are part of a class-action lawsuit involving claims regarding consumer or small business bank accounts, credit cards or loans, as well as identity theft protection, between May 2002 and April of this year. It plans to begin reaching out to those affected customers soon.
