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MarketScreener Homepage  >  Equities  >  Nyse  >  Wells Fargo    WFC

WELLS FARGO (WFC)
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Wells Fargo : to refund some mortgage rate lock extension fees

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10/04/2017 | 03:31pm CEST

SAN FRANCISCO (AP) — Wells Fargo says it will refund customers that paid mortgage rate lock extension fees that were requested from Sept. 16, 2013 through Feb. 28, 2017, as it looks to win back their trust following a scandal over its sales practices.

Wells Fargo & Co. said that approximately $98 million in rate lock extension fees were assessed to about 110,000 borrowers during that period, but it believes a substantial number of the fees were appropriately charged under its policy. The bank said that the amount to be refunded likely will be lower, as not all of the fees assessed were actually paid and some fees already have been refunded.

Wells Fargo said Wednesday that the refunds will start to go out during the last quarter of the year.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed., source Associated Press News

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Financials ($)
Sales 2018 86 831 M
EBIT 2018 30 231 M
Net income 2018 20 745 M
Debt 2018 -
Yield 2018 3,02%
P/E ratio 2018 12,59
P/E ratio 2019 10,54
Capi. / Sales 2018 3,01x
Capi. / Sales 2019 2,98x
Capitalization 262 B
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Mean consensus HOLD
Number of Analysts 31
Average target price 61,7 $
Spread / Average Target 14%
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Managers
NameTitle
Timothy J. Sloan President, Chief Executive Officer & Director
Elizabeth A. Duke Independent Chairman
John R. Shrewsberry Chief Financial Officer & Senior Executive VP
Scott Dillon Chief Technology Officer
John Daniel Baker Independent Director
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