Blog Post
Wells Fargo Gets Fined Yet Again
- By mike@mdanielslaw.com
- •
- 20 Dec, 2022
The big banks aren't your friend!
I've just read a news article about yet another horrifying set of crimes by Wells Fargo Bank. They've just settled with federal regulators (the Consumer Financial Protection Bureau) for yet again taking advantage of their customers.
Apparently cars were illegally repossessed, mortgages were wrongfully foreclosed, and inappropriate overdraft fees were charged to customer deposit accounts. The CFPD is ordering Wells Fargo to refund $2 billion to its customers, and pay a $1.7 billion fine.
This of course follows the 2016 misconduct by Wells Fargo whereby employees set up stealth checking, debit card and credit card accounts for existing customers without their consent in order to meet internal sales goals.
If you believe you have suffered any of these incidents from Wells Fargo Bank I urge you to investigate; contact the CFPB at your earliest convenience. Here's a link to CFPB's website: https://www.consumerfinance.gov/about-us/contact-us/
Here's a link to the article: https://www.cnbc.com/2022/12/20/wells-fargo-agrees-to-3point7-billion-settlement-with-cfpb-over-consumer-abuses.html
Apparently cars were illegally repossessed, mortgages were wrongfully foreclosed, and inappropriate overdraft fees were charged to customer deposit accounts. The CFPD is ordering Wells Fargo to refund $2 billion to its customers, and pay a $1.7 billion fine.
This of course follows the 2016 misconduct by Wells Fargo whereby employees set up stealth checking, debit card and credit card accounts for existing customers without their consent in order to meet internal sales goals.
If you believe you have suffered any of these incidents from Wells Fargo Bank I urge you to investigate; contact the CFPB at your earliest convenience. Here's a link to CFPB's website: https://www.consumerfinance.gov/about-us/contact-us/
Here's a link to the article: https://www.cnbc.com/2022/12/20/wells-fargo-agrees-to-3point7-billion-settlement-with-cfpb-over-consumer-abuses.html