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Wells Fargo Expects to Refund Some Account Fees Amid Review

  • Projected legal costs rise again to as much as $3.1 billion
  • Bank says it has improved debit-card fee-waiver disclosures
Wells Fargo & Co. Bank Branches Ahead Of 4th Quarter Earnings

Photographer: Andrew Harrer/Bloomberg

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Wells Fargo & Co. said it expects to refund certain fees paid on debit-card accounts as it reviews disclosures that may have confused customers.

The San Francisco-based bank, which is working to emerge from a series of customer-abuse scandals, separately said Friday in a filing that potential legal losses rose by $400 million in the first quarter. It’s the second consecutive quarter that this figure -- essentially a worst-case scenario -- has risen at the bank.