Wells Fargo warns litigation losses may rise after accounts scandal

Listen to this article

00:00
00:00

Wells Fargo has warned its litigation bill could be $200m higher than previously thought as the US bank faces a series of lawsuits from employees, workers and customers over the bogus account scandal.

In a quarterly filing on Friday, Well said its “reasonably possible” losses from legal actions against it could exceed its provisions by $2bn — up from a $1.8bn figure it gave three months ago.

Copyright The Financial Times Limited 2017. All rights reserved. You may share using our article tools. Please don't copy articles from FT.com and redistribute by email or post to the web.