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Wells Fargo Bank Account Fraud Lawsuits
Named “Most Admired” among the world’s largest banks by Forbes magazine in 2015, Wells Fargo & Company markets itself as a banking institution that helps its customers achieve financial success. But in September 2016, federal regulators revealed that Wells Fargo employees had been creating millions of fraudulent bank and credit card accounts without the consent of their customers since 2011.
Shortly after the news was revealed, Wells Fargo agreed to pay the largest penalty ever issued by the Consumer Financial Protection Bureau—including $185 million in fines and $5 million in refunds to customers.
At Crumley Roberts, we’re here to help if an unauthorized Wells Fargo account was opened on behalf of you or a loved one. Our lawyers don’t believe innocent people should have to pay for a corporation’s fraudulent behavior, and we want to protect your rights. Call 866-336-4547 or complete our free initial consultation form to get started 24 hours a day, seven days a week.
Thousands of Wells Fargo Employees Involved in Fraud
The scope of Wells Fargo’s account fraud is unprecedented within American banking. The company has confirmed firing more than 5,300 employees for secretly opening customer accounts to hit sales targets and receive bonuses. From 2011 to 2016, more than 1.5 million deposit accounts and 565,443 credit card accounts were opened that may not have been authorized by the bank’s customers.
Customers Paid for Unauthorized Wells Fargo Accounts
Wells Fargo bankers opened unauthorized accounts by moving funds from existing accounts without customers’ consent. In many cases, the movement of funds resulted in customers being charged overdraft fees and fees for insufficient funds.
In addition to banking fees, fraudulent credit card accounts can have a significant impact on credit lending decisions involving homes, cars, and other big purchases.
Our Consumer Banking Fraud Lawyers Want to Help
If an unauthorized Wells Fargo bank account or credit card was opened on behalf of you or a loved one, contact Crumley Roberts today. Our lawyers are investigating the consequences of Wells Fargo’s actions, and we want to hear from you today. Contact our 24/7 legal team now to get help—just dial 866-336-4547 or fill out our free initial consultation form.
This law firm is not affiliated with, sponsored by, or associated with CNN; Forbes Magazine; the U.S. Consumer Financial Protections Bureau; or Wells Fargo & Company.Free Initial Consultation