Wells Fargo To Pay The Navajo Nation $6.5-Million

Wells Fargo has agreed to pay the Navajo Nation, six-and-a-half million dollars, to settle a lawsuit that alleged that the bank preyed on members of the tribe by using questionable sales tactics. The settlement stems from a 2017 lawsuit by the tribe, that accused Wells Fargo of opening fake accounts and pressuring elderly members, who didn’t speak English, to enroll in services they didn’t need. Navajo Nation President Jonathan Nez said in a statement that the settlement “puts other companies on notice that harmful business practices against the Navajo people will not be tolerated.” The tribe alleged that Wells Fargo representatives went to basketball games and community markets to sign up customers for unnecessary accounts between 2009 and 2016. We’ve reached out to the Tribe to find out where the money will go.