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  • Michelex Corp. Wells Fargo Lending Dispute Settlement
    Wells Fargo filed a lawsuit against the specialty plastic product company over a lending dispute. Wells Fargo sued Michelex, claiming the bank was owed just under $3 million in promissory notes. Michelex has agreed to pay Wells Fargo $1,025,000 by April 20, 2006 and $1,400,000 by August 31, 2006. (Apr-12-06) [ HOUSTON CHRONICLE ] Legal Help ...
  • Mutual Fund Antitrust, Wells Fargo & Company et al. may pay $1.15 million class action settlement for excessive fees
    San Francisco, CA: (Oct-28-07) A class action lawsuit was filed against Wells Fargo & Company, Wells Fargo Investments, LLC, H.D. Vest Investment Services, LLC, Wells Fargo Funds Trust, Wells Fargo Funds Management, LLC, Wells Capital Management Incorporated, Wells Fargo Funds Distributor, LLC, and Stephens Inc., alleging that the defendants had questionab...
  • Wells Fargo, Wachovia Sued for $60 Billion by Citigroup
    Wells Fargo and Wachovia face a $60 billion lawsuit launched by Citigroup, after the tentative deal Citigroup was working on to purchase Wachovia's banking operations was usurped by a rival offer from Wells Fargo & Co. Filed Monday in New York Supreme Court, the complaint seeks more than $40 billion in punitive damages and more than $20 billion in com...
  • Wells Fargo Agrees $37M to Settle Bid-Rigging Lawsuits
    New York, NY: Class action lawsuits filed by various municipalities against Wells Fargo look set to end, as Wells Fargo & Co has agreed to settle the suits, but they are pending court approval. The lawsuits alleged bid-rigging by Wachovia's municipal derivatives group, according to a report on Reuters.com. Wells Fargo, which acquired Wach...
  • Wells Fargo Fake Bank and Credit Card Account Fraud Revealed
    Sep-8-16 Santa Clara, CA: Wells Fargo is facing $185 million in fines, after authorities uncovered millions of fraudulent bank and credit card accounts set up by bank employees in order to boost or hit sales targets. Further, the employees also made up PIN numbers and email accounts in connection with the false accounts, to get people to sign up for online...
  • Wells Fargo Loses Overdraft Fee Appeal
    Apr-13-16 Washington, DC: Banks and credit unions fighting back against excessive overdraft fees lawsuits just lost another important round as the US Supreme Court refused to hear Wells Fargo’s appeal of an overdraft fees award. Lawsuits filed against banks and credit unions allege the financial institutions misled customers about their overdraft policies,...
  • Wells Fargo Settles Gender Bias Suit for $32 Million
    Washington, DC: A federal judge in Washington has approved a $32 million settlement of a class action brought against Wells Fargo Advisors by a group of women who alleged gender discrimination. Reportedly, some 3000 female financial advisors make up the class. Under the terms of the settlement, Wells Fargo Advisors will implement policies and pr...
  • Wells Fargo Settles New Jersey State Investigation into Pick-a-Payment Mortgages
    New York, NY: Wells Fargo Home Mortgage has reached a settlement of a state investigation into whether mortgages sold by Wachovia Corp., Golden West and World Savings, which were bought by Wells Fargo in 2008, violated the Consumer Fraud Act. They were sold as 'Pick-a-Payment' mortgages and had low monthly payment options. The investigation alleg...
  • Wells Fargo and Rels Valuation Face Evaluation Suit
    Two homeowners in Phoenix recently filed a lawsuit against Wells Fargo (NYSE: WFC) and its appraisal subsidiary Rels Valuation, claiming the mortgage giant illegally rigged the appraisal process and referred appraisal business to its subsidiary in a scheme to boost profits at the expense of homeowners. The lawsuit, filed under the Racketeering Influenc...
  • Wells Fargo Ordered to Pay $203M in Overdraft Fees Class Action Settlement
    San Francisco, CA: US District Judge William Alsup has issued an order to reinstate a $203 million judgment against Wells Fargo Bank. The judgment is based upon the court's findings, as affirmed on appeal by the Ninth Circuit, that Wells Fargo violated California's unfair competition law by deceiving its customers that debit card purchases would be posted...
  • Wells Fargo Bank Settles TCPA Lawsuit
    Jul-29-16 Atlanta, GA: It's not just small debt collection companies that run afoul of consumers for alleged violations of the Telephone Consumer Protection Act (TCPA). Large financial institutions such as Wells Fargo Bank also find themselves on the receiving end of lawsuits alleging they contacted customers without consent, in violation of TCPA and the Fair De...
  • Wells Fargo Under Fire for Excessive Fees Again
    Sep-14-16 Washington, DC : It's bad enough when consumers have to pay excessive bank fees for transactions that have been reordered, or when they haven't authorized overdraft on their account. But now allegations have been raised that Wells Fargo not only created millions of unauthorized accounts, it also charged customers for those secret accounts. The Consumer...
  • Labor Department Orders Wells Fargo to Reinstate Whistleblower and Pay $577,000 in Back Wages
    Jul-27-17 San Francisco, CA: The US Department of Labor has ordered Wells Fargo to reinstate a former branch manager whistleblower that the bank fired for reporting bank employees who where secretly opening new accounts for customers without their knowledge or consent. The Labor Department announced the ruling in a July 21, 2017 news release. "The US Depar...
  • Settlement Reached in Wells Fargo & Wachovia Gender Discrimination Class Action
    New York, NY: A settlement has been reached in a class action lawsuit against Wells Fargo Advisors, LLC, Wells Fargo & Co., Wachovia Securities, LLC, a wholly owned subsidiary of Wells Fargo & Co., and Wachovia Corporation ("Wachovia") (collectively "Wells Fargo"or "Defendants") in the United States District Court for the District of Columbia (styled Evely...
  • Wells Fargo Urges Judge to Refuse to Certify Hundreds of Employees in Class Action
    Mar-6-17 Los Angeles, CA: Wells Fargo on Monday urged a California federal judge to refuse to certify a class of more than 600 home consultants who claim in a California Labor lawsuit that the bank failed to pay them for missed meal breaks. In the class action Nicole Torres et al. v. Wells Fargo Bank NA, Case No. 5:15-cv-02225, US District Court for the C...
  • Wells Fargo Excessive Overdraft Fees Legal News & Lawsuit Information
    Wells Fargo Bank and other financial institutions have faced allegations that they used deceptive practices in charging customers excessive overdraft fees. Federal rules that took effect in 2010 no longer allow banks and credit unions to charge overdraft fees on ATM or debit card transactions unless the bank customer agrees to "opt-in" to overdraft protectio...
  • Wells Fargo Faces California Labor Lawsuit Alleging Failure to Pay Overtime, Wrongful Termination
    Oct-3-16 Los Angeles, CA: Wells Fargo, currently under scrutiny for reportedly using unethical and illegal tactics to open unauthorized debit and credit card accounts, now faces a California labor lawsuit from two former employees who allege they were fired for refusing to open unauthorized accounts and/or for failing to meet unrealistic sales quotes. The lawsu...
  • $13M Wells Fargo Unpaid Breaks and Wages Class Action Lawsuit Settlement Reached
    Los Angeles, CA: A $13 million settlement has been reached between Wells Fargo and around 44,000 employees in California who filed an unpaid wages class action lawsuit. Specifically, the lawsuit alleges the bank failed to pay for hours worked off-the-clock, including both overtime and straight-time pay, and failed to provide meal and rest breaks. If...
  • Wells Fargo‚Äôs Pursuit of Arbitration a Waste of Resources: Plaintiffs
    Apr-24-17 Atlanta, GA: A long-running class action lawsuit alleging banking giant Wells Fargo charged their clients and consumers excessive overdraft fees is attempting to move forward amidst a petition by the plaintiffs that Wells Fargo is not in any position to seek arbitration, as the defendant has tarried too long for arbitration to be appropriate. Wells...
  • Wells Fargo to Pay $97M to Commissioned Brokers for Rest Breaks
    May-21-18 Los Angeles, CA: A Wells Fargo mortgage broker last year filed a wage and hour lawsuit alleging the bank failed to provide rest breaks, among other violations. The bank said it owed employees $25 million, but last week a federal judge agreed with its bankers and consultants: the money they were entitled to for unpaid rest breaks should be based on their...
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