Wells Fargo Atm
A man uses a Wells Fargo ATM outside headquarters of Wells Fargo Capital Finance, in the Financial District neighborhood of San Francisco, California, September 26, 2016. Images). Smith Collection—Gado/Getty Images

Wells Fargo Just Reached a $110 Million Settlement Over Its Fake Account Scandal

(NEW YORK) — Wells Fargo says it will pay $110 million to settle a class-action lawsuit over up to 2 million accounts its employees opened for customers without getting their permission.

It's the first private settlement that Wells has reached since the company paid $185 million to federal and local authorities late last year after authorities said its employees, driven by high-pressure sales tactics, opened the accounts to meet unrealistic sales goals.

The settlement, announced late Tuesday, will include 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.

Thousands of employees had been fired over the sales practices over the years, and the scandal led the bank's CEO John Stumpf to abruptly retire.

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions