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4-Traders 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 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 This material may not be published, broadcast, rewritten or redistributed., source Associated Press News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 2018 88 744 M
EBIT 2018 34 061 M
Net income 2018 23 258 M
Debt 2018 -
Yield 2018 2,76%
P/E ratio 2018 12,44
P/E ratio 2019 11,07
Capi. / Sales 2018 3,31x
Capi. / Sales 2019 3,21x
Capitalization 294 B
Chart WELLS FARGO
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Wells Fargo Technical Analysis Chart | WFC | US9497461015 | 4-Traders
Technical analysis trends WELLS FARGO
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Mean consensus HOLD
Number of Analysts 32
Average target price 63,7 $
Spread / Average Target 6,6%
EPS Revisions
Managers
NameTitle
Timothy J. Sloan President, Chief Executive Officer & Director
Elizabeth A. Duke Chairman
John R. Shrewsberry Chief Financial Officer & Senior Executive VP
Scott Dillon Chief Technology Officer
Enrique Hernandez Independent Director
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