Mitchell v. Wells Fargo Bank NA: Wells Fargo Faces Class Action Over Bogus Accounts

Class Action

Mitchell v. Wells Fargo Bank NA: Wells Fargo Faces Class Action Over Bogus Accounts

Wells Fargo & Co, embroiled in a scandal over the opening of sham accounts, was sued on Friday by customers who accused the bank of fraud and recklessness for its behavior.

The lawsuit was filed in the U.S. District Court in Utah, and seeks class-action status on behalf of hundreds of thousands of customers nationwide.

Wells Fargo did not immediately respond to requests for comment.

Last week, the San Francisco-based lender agreed to pay $190 million to settle regulatory charges that employees opened some 2 million accounts without customers’ knowledge, in order to meet sales targets.

Wells Fargo, the country’s third-largest bank by assets, has said it has fired 5,300 people over the matter and would eliminate sales goals in its retail banking on Jan. 1, 2017.

Federal prosecutors have begun examining Wells Fargo’s practices, and the bank’s Chief Executive Officer John Stumpf is scheduled to testify before Congress next week.

In the complaint, three plaintiffs said customers were hurt by “abusive and fraudulent tactics” used by employees who felt they had to “do whatever it takes,” including selling products they did not need or want, to meet sales quotas.

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2 Responses to “Mitchell v. Wells Fargo Bank NA: Wells Fargo Faces Class Action Over Bogus Accounts”
  1. ELLEN L CONOVER says:

    My military family 2 sons in the military and myself need to join this suite we discovered that my mom at age 70 was given 6 loans by this and pay for 37 years would she really be here to pay no and my deceased dad 1995 was on these loans to help facilitate her income after she go the loans which she only wanted one small loan in case her drug addicted son went to jail to bail him out he died prior to her death she told me the bank kept calling her back to sign papers after loans were approved and a lot of money taken by an employee they illegally declared my dad dead and removed him with her left holding the bag of loans she could not afford the bank declared my dad dead in 2001 but he died in 1995 plus they both got a mortgage in 1999 but home paid off in 1979 now they have for 5 years instead of answering to allegations which in court under oath they did say they gave a dead person loans

  2. mike Drouin says:

    All because of the excuse of ” economic adversity ” These big banks escape prosecution for the CRIMES they commit against the public !?!? This latest Fraudulent scam doesn’t even come close to the tens of millions of FAKE MORTGAGES created to use our homes as collateral to give value to security certificates sold to unsuspecting and defrauded investors on the other end of a criminal scheme perpetrated by avaricious adventurers in our Banking system . What’s more disturbing is that when you go to the Federal Courts , you will find that the Judges are bias toward the Banks and will try to torpedo your effort to hold them accountable ! This is happening in NH District Court where the Judge has a couple of complaints before him , with the smoking gun evidence revealing the crimes that were and are being committed in the Mortgage Industry against the American Homeowner . He has violated his oath of office and is working in conjunction with bank Lawyers to torpedo these complaints on procedure which has been brought before him in a pro se capacity . Even the Lawyers that you hire and pay for your defense are manipulated by the Courts , as was mine after paying him thirty-five grand . He was taken into the Judges Chambers for a pre-trial meeting with the Banking Lawyers and when they emerged from that meeting , one of the banking Lawyers said to my lawyer ” did you tell them we won and you lost ? ” The case was decided in his chambers and I ended up firing my Lawyer for lack of representation as I was railroaded from that point on !!!!

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