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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 CET

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 This material may not be published, broadcast, rewritten or redistributed., source Associated Press News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 2017 88 702 M
EBIT 2017 31 385 M
Net income 2017 19 933 M
Debt 2017 -
Yield 2017 2,55%
P/E ratio 2017 15,08
P/E ratio 2018 13,80
Capi. / Sales 2017 3,35x
Capi. / Sales 2018 3,28x
Capitalization 297 B
Chart WELLS FARGO
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Wells Fargo Technical Analysis Chart | WFC | US9497461015 | 4-Traders
Technical analysis trends WELLS FARGO
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 33
Average target price 57,9 $
Spread / Average Target -4,1%
EPS Revisions
Managers
NameTitle
Timothy J. Sloan President, Chief Executive Officer & Director
Stephen W. Sanger Non-Executive Chairman
John R. Shrewsberry Chief Financial Officer & Senior Executive VP
Scott Dillon Chief Technology Officer
Enrique Hernandez Independent Director
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