Wells Fargo Settles Loan Case
Wells Fargo says it will pay $24 million to New Jersey and seven other states, to end investigations into its "pick-a-payment" loans. Those loans allowed borrowers to choose how much they wanted to pay each month. Often, those payments did not even cover the interest due. Attorneys general for the states were concerned that Wells Fargo did not disclose those risks, and may have deceived borrowers.
