Wells Fargo and the Credit Bureaus Sued for Deceit

Following on the heels of the Nevada AG‘s suit that details profound deception and bad faith dealing by Bank of America, Countrywide and affiliates, consumers in Oklahoma have leveled similar charges against Wells Fargo. Similar, that is, in that the consumers accuse Wells Fargo and the Credit Reporting Agencies of deceptive and incompetent business practices, including the total violation of a settlement agreement. The actual deceptions detailed in the two lawsuits are quite different.

In the Oklahoma case, which seeks class action status, Wells Fargo habitually failed to properly acknowledge receiving the plaintiffs’ mortgage payments, which were always made in full and on time. That is, Wells decided the plaintiffs were in default even though they weren’t, and never had been. As a result, Wells twice tried to foreclose on them wrongfully, and wrongly reported to the credit reporting agencies that the plaintiffs were in default. (This treatment of a current borrower as a delinquent one mirrors what happened to one of the homeowners suing to block the BofA/BNY settlement, see paragraphs 11 and 12 of the complaint.)

After litigation won by the Oklahoma plaintiffs, Wells agreed to work with the credit reporting agencies to fix the plaintiffs’ credit reports, dismiss the foreclosures, and pay the plaintiffs’ attorneys’ fees. But Wells not only didn’t get plaintiffs’ credit reports fixed, Wells kept going after them for money they didn’t owe.

Check out the rest here…

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4closureFraud.org

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Amended Complaint 25 Mil Class Action

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