Wells Fargo, a major U.S. bank, has agreed to pay $1 billion to settle a class-action lawsuit that accused the bank of misleading investors about its progress in addressing unlawful practices that harmed millions of customers. The settlement, detailed in court filings, is the latest in a series of penalties and settlements the bank has faced since a fraud scandal emerged nearly a decade ago. Between 2002 and 2016, Wells Fargo employees, driven by unrealistic sales goals, opened numerous accounts in customers' names without their knowledge. Wells Fargo has faced a string of controversies over the years, including sham accounts, improper mortgage modifications, and accidental releases of client data. In December, the bank agreed to pay $3.7 billion to settle claims by the Consumer Financial Protection Bureau related to various banking violations. In 2020, Wells Fargo also paid $3 billion to settle investigations into consumer abuses that spanned over a decade.