San Francisco-based Wells Fargo Bank (WFC), one of the largest banks in the US, is trying to push its customers to resolve the lawsuits that they are bringing over the opening of unauthorized accounts through private arbitration, instead of in a courtroom, according to legal documents filed Wednesday. The bank asked the US District Court in Utah to order dozens of customers to settle their …
One major group directly affected by the Wells Fargo scandal- the customers who had fraudulent accounts opened in their names – may have their hands tied. As lawmakers pointed out at congressional …
SEATTLE–(BUSINESS WIRE)–Attorney Advertising. The law firm Keller
Rohrback L.L.P., which over a year ago filed the first
class action lawsuit against Wells Fargo Bank, N.A. (NYSE: WFC) for
opening unauthorized accounts, announced it is investigating allegations
of similar practices at other consumer banks.
A class-action lawsuit filed against Wells Fargo last week might be hamstrung at the starting line, legal experts say. Customers who had bank or credit card accounts opened in their name without their knowledge face an uphill battle even getting a court to hear their case because of mandatory arbitration contract clauses that protect banks from class-action suits, consumer advocates say. John …
After settling with regulators for $185 million over signing up its customers for more than 2 million accounts without their knowledge and subsequently charging them fees, Wells Fargo became the focus of a Senate Banking Committee hearing on Capitol Hill on Tuesday. White-collar criminologist William Black told the Real News that the hard work exposing the bank’s practices was “done by the …
Wells Fargo & Co customers aiming to sue the bank over bogus accounts opened in their names may be in for an unpleasant surprise: the fine print requires them to take their claims to an arbitrator instead of a court. Continue Reading Below Mandatory arbitration rules inserted into account-opening agreements prohibit customers from joining class actions or suing the third-largest U.S. bank in …
The first lawsuit has been filed against Wells Fargo Friday. Three plaintiffs in Utah are suing the bank for fraud, invasion of privacy and breach of contract. This follows the recent news that the bank collected fees on millions of unauthorized accounts.
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Sept. …
The strife of thousands of Arab Americans being discriminated against by government entities since 9/11, as well as by some Trump-inspired individuals, is nothing new to the immigrant community. Recently, cases of banks abruptly closing the accounts of their Arab Americans customers without explanation have begun to surface in district courts. Financial institutions like Chase, Bank …
A proposed class action settlement has been reached in Reyes v. Zions First National Bank, Case No. 10-cv-0345, pending in federal court in the Eastern District of Pennsylvania. The Plaintiff alleged that between October 2006 and March 2010, Zions First National Bank, NetDeposit, LLC, MP Technologies d/b/a Modern Payments and Teledraft, Inc., violated federal law by initiating debits on …