Wells Fargo has agreed to pay US$110 million to settle a class-action lawsuit with customers who had accounts opened without their permission, or were signed up for a product they did not agree to, going back to January 1, 2009. According to CNBC, this will be the first private settlement Wells has reached since it paid US$185 million to federal and local authorities late last year. Thousands of employees have been fired over the sales practices, and the scandal led the bank's CEO John Stumpf to retire.