AZCLG a consumer rights firm located in Tempe

The 2016 Wells Fargo Lawsuit

2016 Bank Fraud Lawsuit against Wells Fargo

What happened? 

Wells Fargo wanted to increase the number of bank accounts it serviced and implemented unreasonable sales quotas for its personal bankers. To meet these quotas, some bankers opened multiple accounts for its customers without the customer’s knowledge or consent. This lead to many people having numerous accounts at Wells Fargo they knew nothing about.

Worse, the bankers engaging in this fraudulent conduct received bonuses and promotions. However, the bankers who did not illegally open accounts were demoted or fired. These employees are now suing Wells Fargo for unlawful termination.

Bank Fraud

But what does this mean to you?

Well, if you opened an account at Wells Fargo in the last 7 years, then you may have some additional accounts you don’t know about. The problem is this: if any of these unknown accounts went into insufficient funds status or were closed with a derogatory status then you are unlikely able to open a bank account at a different institution.

How can I find out if I am a victim?

You can request a “Full File Disclosure” from Early Warning Systems.  Click Here for a free template. If you come across any problems or have questions, we can help.

Rochelle

Rochelle

My firm has 3 goals – be cost effective & efficient, make complicated things simple, and change the way people think about attorneys. We do this by offering flat rates with payment plans, educating our clients, and by encouraging everyone to ask us questions to better understand what we do & why we do it. I am a credit attorney and I love helping people with debt and credit legal issues.

Reader Interactions

Leave a Reply

Your email address will not be published. Required fields are marked *