Wells Fargo ($33.83 -0.24%) said it provided 35% of its homeowner relief required under the robo-signing settlement struck in March.
The San Francisco bank agreed to provide $4.3 billion in total relief and expects to complete the entire commitment within one year of the settlement. Bank of America ($7.85 -0.15%) made the same claim this week after the monitor released its first report Wednesday.
Through June 30, Wells completed or started relief totaling a gross dollar amount of nearly $1.5 billion. The gross amount will be credited differently toward the $4.3 billion based on the type of relief given. But based on Wells’ own calculation, it’s more than one-third of the way there.