Wells Fargo Settles Merchant Suit
San Francisco, Wells Fargo & Co., the No. 5 U.S. bank, agreed to settle a California lawsuit and will pay from $19 million to $34 million as part of the deal. The nation’s fifth largest bank, which denied any wrongdoing, was accused of charging excessive credit card processing fees. In a statement, Wells Fargo said it was pleased with the settlement, adding that it "has always made full disclosures to merchants" about billing practices.