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400 E. Broadway

The Wells Fargo building at 400 E. Broadway Ave. is undergoing a facelift in 2017.

North Dakota's portion of a nationwide legal settlement with Wells Fargo Bank is $1.2 million.

The payment will cover attorney fees and legal costs associated with a multi-state consumer protection violation lawsuit, according to a statement by Attorney General Wayne Stenehjem.

Wells Fargo was accused in 2016 of opening millions of unauthorized customer accounts, enrolling customers in online banking services without their consent, improperly referring customers for enrollment in third-party insurance policies, charging insurance fees and premiums without consent and other fraudulent practices. More than 3.5 million customer accounts were involved.

Affected customers were to be reimbursed separately through a share of more than $600 million in restitution from a related consumer class-action lawsuit.

Wells Fargo also must implement a financial relief program for customers who did not receive restitution, as part of its settlement with the states. The bank has until Feb. 26 to create a website where those customers may file their financial relief requests.

“Wells Fargo created incentive programs and unrealistic sales goals, which provided the opportunity for fraudulent conduct by its employees," Stenehjem said in a statement. "This settlement is the most significant action involving a national bank by state attorneys general acting without a federal law enforcement partner."

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Reach Jessica Holdman at 701-250-8261 or jessica.holdman@bismarcktribune.com

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