Just saw Wells Fargo is paying out $56.85 million over some pretty wild credit reporting mistakes during the pandemic. Basically they were marking mortgage accounts as delinquent when they shouldn't have been, which tanked people's credit scores. Pretty messed up because customers' loan applications got affected by something that wasn't even accurate.

The settlement itself is interesting because people don't have to do anything - the money gets distributed automatically after the court signs off in April. So it's not like you need to file a claim or jump through hoops. Still, $56.85 million settlement for Wells Fargo feels like a drop in the bucket for a bank that size, but at least it's something.

Makes you wonder how many other times this kind of thing happens and doesn't make headlines. Anyone else had weird credit report issues before?