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 …
SAN FRANCISCO (Legal Newsline) – Wells Fargo shareholders this week filed a class action lawsuit against the bank, its chairman and CEO, CFO and the former head of its community banking division, alleging the Wells Fargo executives “concealed” the fact that the source of the bank’s record so-called “cross-selling” was based on fraudulent activity. “While bragging about the Company’s cross- …
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.
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Reimbursements to Wells Fargo Bank customers in California continue to be doled out following a U.S. Supreme Court ruling in April that denied the bank’s appeal related to a lawsuit involving overdraft fees. Beginning July 1, paper checks were sent to members of a class-action lawsuit who are no longer Wells Fargo customers, according to the bank’s spokesman Kristopher Dahl. Current customers …
The U.S. Supreme Court on Monday rejected two corporate challenges in class action cases, refusing to hear bids by Wal-Mart Stores Inc (WMT.N) and Wells Fargo & Co to throw out large judgments against them. Wal-Mart had sought to get rid of a $187 million class action judgment over the retailer’s treatment of workers in Pennsylvania.