Los Angeles City Attorney Mike Feuer recently announced that his office has reached a settlement with Wells Fargo, the nation's third largest bank, in litigation alleging the bank opened thousands of accounts without customers' consent, failed to apprise customers the accounts had been opened and improperly charged customers fees. Wells Fargo is required to provide restitution to affected customers and pay $50 million in civil penalties, the largest such payment in the history of the Los Angeles City Attorney's office. The fines will be used for future consumer protection efforts. Feuer's announcement coincided with announcements from federal agencies that they also resolved claims against Wells Fargo. The Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC) issued consent orders to the bank. Both federal agencies require Wells Fargo to change sales practices and implement more internal oversight.