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Sept. 16 — Wells Fargo customers filed a $5 million lawsuit against the bank, saying Wells Fargoopened bank accounts without authorization and transferred funds without consumers’consent (Mitchell v. Wells Fargo Bank, D. Utah, No. 16-cv-00966, complaint filed9/16/16).

The lawsuit, framed as a class action, said the bank engaged in unfair practices underUtah law. It also alleged violations of the Stored Communications Act, the Fair Credit Reporting Act, and other federal laws.

Wells Fargo spokesman Ancel Martinez Sept. 16 declined to comment on the lawsuit.

`Unrelenting Pressure’ Alleged

The complaint asked the court to certify a class of customers had checking, savings,and brokerage accounts with Wells Fargo, and those with Wells Fargo financial advisorsor mortgages.

The potential class also includes anyone who “used any of Wells Fargo’s banking services”in the previous four years.

Wells Fargo is still managing fallout from the episode. The House Financial ServicesCommittee and the Senate Banking Committee plan to hold hearings to examine the bank’sactions.

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