Business & Real Estate

Wells Fargo settles privacy allegations for $8.5 million

FILE - In this Wednesday, Dec. 19, 2012, file photo, a man walks past a Wells Fargo location in Philadelphia. Wells Fargo reports quarterly financial results on Friday, July 11, 2014.
FILE - In this Wednesday, Dec. 19, 2012, file photo, a man walks past a Wells Fargo location in Philadelphia. Wells Fargo reports quarterly financial results on Friday, July 11, 2014. AP

State Attorney General Kamala Harris and five California district attorneys on Tuesday announced an $8.5 million settlement with Wells Fargo Bank over alleged privacy violations.

The civil complaint filed earlier this year in Los Angeles Superior Court alleged that Wells Fargo violated California law by failing to timely and adequately disclose its automatic recording of phone calls with members of the public.

Wells Fargo did not admit any wrongdoing. Officials said in a statement that the company now has procedures to ensure disclosures occur when a call begins.

Mark Glover: 916-321-1184, @markhglover

  Comments