Wells Fargo class action lawsuits overview:
- Who: Consumers recently filed several class action lawsuits involving Wells Fargo.
- Why: The class action lawsuits involve claims Wells Fargo charged illegal bounced check fees, failed to provide fraud reimbursement, aided and abetted an alleged Ponzi scheme and knowingly participated in a marketing scam.
- Where: The class action lawsuits were filed in U.S. federal courts.
Consumers recently filed several class action lawsuits against Wells Fargo regarding bounced check fees, fraud reimbursement, an alleged Ponzi scheme and a marketing scam.
Wells Fargo charged unlawful bounced check fees, class action claims
A consumer filed a class action lawsuit against Wells Fargo earlier this month over claims the bank charges unlawful $12 bounced check fees.
The class action lawsuit claims Wells Fargo unlawfully charges consumers the bounced check fee if they deposit a check that bounces, regardless of whether the depositor knew the check would not clear.
“Generally, a customer depositing a check anticipates receipt of the funds,” the Wells Fargo class action says.
The plaintiff wants to represent a nationwide class of Wells Fargo customers whom the bank charged a bounced check fee between Feb. 1, 2024, and March 30, 2024.
In June, Wells Fargo asked a federal judge in June to dismiss a similar class action lawsuit over the $12 bounced check fees. The bank is arguing for arbitration of the claims.
Wells Fargo class action claims bank failed to reimburse fraud victims
A pair of consumers filed a class action lawsuit against Wells Fargo in June over claims the bank fails to reimburse customers who become victims of fraud.
The class action lawsuit claims Wells Fargo routinely holds its customers liable for instances of fraud, namely when an unauthorized electronic transfer is made out of their Wells Fargo deposit accounts.
“Because defendant failed to reimburse plaintiffs and the class for the unauthorized electronic transfers, defendant has violated (the Electronic Funds Transfer Act),” the Wells Fargo class action says.
The consumers want to represent a nationwide class of individuals who had funds electronically transferred from a Wells Fargo deposit account without having authorized the transfer and who notified Wells Fargo of the unauthorized transfer within 60 days but were not reimbursed by the bank within one year prior to the filing of the class action lawsuit.
Wells Fargo aided, abetted Ponzi scheme involving elderly, class action claims
A consumer filed a class action lawsuit against Wells Fargo in June over claims the bank aided and abetted a Ponzi scheme that financially injured many elderly investors.
The class action lawsuit claims the Ponzi scheme caused elderly investors to lose more than $300 million, with the money representing a significant amount of their life savings.
The consumer argues Wells Fargo was aware Marshal Seeman, Eric Holtz and Brian Schwartz perpetuated a Ponzi scheme through a number of entities but using Wells Fargo as their primary bank.
“Wells Fargo, as the primary depository bank used in the scheme, as well as in its roles as trustee and securities intermediary, effectuated the transactions that enabled the scheme to reach catastrophic levels,” the Wells Fargo class action says.
Class action says Wells Fargo knowingly participated in marketing scam
Last month, a consumer urged a judge not to grant a motion for summary judgment filed by Wells Fargo in a bid to end claims the bank knowingly participated in a marketing scam and ignored obvious signs of fraud.
In a 2021 class action lawsuit, the plaintiff argues Wells Fargo knowingly participated in a marketing scam involving free trials that ultimately turned into costly subscriptions that were difficult to cancel and scammed consumers out of $200 million.
Wells Fargo is accused of maintaining depository accounts allegedly used to perpetrate the scam, while the consumer, in an effort to prevent summary judgment, argues a “mountain of facts” exists that show the bank knew about the fraud for years.
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94 thoughts onWells Fargo hit with recent class actions over fees, marketing, more
Wells Fargo would charge me a overdraft fee if $35 if the transaction was short $5-$10. Although I specifically requested that I please be denied any transaction that I did not have the funds to cover in my checking account.
However, Wells Fargo would consistently overdraft me for as little as a couple dollars but denied the transaction other instances for the same amount. Wells Fargo then started to bill me these outrageous overdraft fees every month. Cost of in the hundreds on a monthly basis. I would review my transactions and there would be no record of when or where the overdrafts had occurred, what the actual amount was that was overdrafted, no dates too when the transaction transpired, nothing.
There was apparently many, many instances over the 3 years I banked with them, where my checking account would just become negative a few hundred with no reasons as to why, when, or the amount taken from me.
It became that I was never notified that the transaction was overdrafted, or that I had become in the negative due to this fictional overdraft fee. The bank was very clear to let me know multiple times a day if my account has reached zero to be sure, yet I was never notified that I acquired overdrafts or that they were owed. They went from denying a transaction for as little as $20 short in my checking account balance to complete the transaction, but at the time of my pay days I would have a few hundred here and there removed with zero notifications as to why or when or how much. Nothing to show that the amounts were too pay outrageous overdraft fees and late fees that I was not aware I even acquired. After the money was deposited in my account and the bank had taken whatever it was that pay period , I would see nothing in my transaction record in relation to the losses.
If I am denied a debit charge by Wells Fargo if my account is short $4-$5 to complete the transaction, then hear nothing from them but countless emails and texts every day about howy account has reached zero and that I needed to fix that, yet I would somehow have acquired overdraft fees over $200-$300 that had no receipt to simply record even taking the money, much less when , why, how , and the amount stolen.
In fact this had been occuring so often that it got too be where I would not know what they were taking or for how long they had been at it. I would be paid and deposited in my account, then within the same day I attempted a online purchase in the amount of $180 or so and was promptly denied. Not enough funds to cover the sale was the reason. I had just placed a $500 cash deposit in to my account within a hour or 2, so I was well aware that the funds should be available.
Of course when I went to my online profile at Wells Fargo there was absolutely nothing to show why the money I had just deposited was now approximately $240 less, but no reason for the missing money was found anywhere within my online profile account.
This lack of data caused me to visit the local branch to get answers.
Upon the next day I did just this, I arrived at the Wells Fargo and asked to speak with a manager. I explained to her that I was not able to find any receipts or record of why or how my funds were removed. She looked in to her computer and was not able to find any information either. She asked me to return the next day and I did. At that time it was explained that the approximately $240 that was mysteriously missing from the $500 deposit I had made just a day ago was due to overdraft charges!!
I asked her how was it possible for my account to be in a negative amount of that size if i was never notified about the account reaching zero balance? If I had made some transaction and the amount was not available to complete the transaction and Wells Fargo then overdrafted my account, surely my account would certainly be at zero immediately finalizing the transaction that I did not have the full amount in my balance to complete. Wells fargo has a passion with constantly reminding oneself that the checking account they own is infact at or below the zero mark and Wells Fargo will make sure that you are made aware of this information several times a day, every day, via texts, voicemail, email, etc..
Although I posted this simple question the bank manager was not able to provide me a answer.
I then asked if she may please explain when the overdraft that somehow acquired a fee of $240 had actually occurred and again she was not able to provide a answer. I then asked what the amount of the transaction was and the amount I was short to receive such a overdraft fee? Wouldn’t you know it, she was not able to provide that data as well.
I then posed the question as to how in the hell can your bank simply remove several hundred dollars from my checking account and yet there is no paper trail or transaction record of any kind to justify the loss?
I demanded to understand how if she has absolutely nothing to show when, where, or the amount in question but somehow she does know it is a overdraft fee??
That is the time that I realized they had been taking my money for so long that they literally didn’t even try to cover the digital track or even sloppily justify the theft from me. They had become so comfortable with taking clients money for “over draft protection fees” that they had become completely lackadaisical with even trying to justify the fraudulent actions that no doubt had consumed the entire company at that point in 2017-2018.
I closed my account that day right then and there without ever knowing how much or for how long they had been stealing my money.
Ironically I had just received a letter from Wells Fargo yesterday. It is a letter from Wells Fargo attempting to explain to me that they had reviewed some accounts and found some discrepancies with overdraft fees and other issues. My account was found to have been over charged or fraudulently over charged and they were kind enough to cut me a check for the amount of $12.42 cents to cover any inconsistent fees or charges I may have incurred with the past account I held there.
I can only assume that they are hoping I cash the miniscule amount of a check and that would no doubt inadvertently show that I was content and agreed with the amount issued to me. There by relinquish any powers I had with future or passed legal matters I may have otherwise be entitled
too.
Bank of america has been trying to get me to cash the $13.00 check they served me as well. That has been a ongoing plea from them about once every 2-3months out of the year. For the past 5 years.
I tell both banks that I will be cashing the checks as soon as possible because they are so terribly worried about me doing so.
If a attorney sees something worth pursuing here in this remark then I am motivated and ready to pursue any and all.. thank you. M. Johnson
Wellsforgo changes policies at the drop of a hat to justify fees
I want to be compensate for such insubordination
Wells fargo covered a charge from a merchant. Within 48 hours the merchant reimbursed me the money. I messaged through the app for them to take the money they covered. They didnt. Two weeks later my ssdi check is deposited and also a gift of money. My account maintained the money for almost a week. They decide to take the money when there isnt enough to cover the charge overdrawing my acct. I contacted them to request a delay in their charge reversal so I could have ample time to get enough money in my account because it has been three weeks since any of it took place anyway. I’m a disabled person living on a fixed income trying to get ready to buy my first home then Wells Fargo does this pushing me back months and months and months. I think it’s ironic that they waited till I didn’t have enough money in my account to reverse the charge when I have had 15 times the amount of that for the past three weeks waiting for them to reverse it. Why wait wells fargo? You saw them reverse the money. Why didnt you take it back?
Add me to a law suit. They deserve it. I deserve it. This is aggressive behavior from an institution. You can’t act innocent to me y’all are the ones that can see everything you saw the money there you knew you could take it. You waited so you could profit more money out of this situation and that’s about coming after me for penalties.
I want to be Added to Class Action Suit for unauthorized wirmthdrawls
Four days ago I was victim of fraud . I was getting ready for work. I received a text asking if I had authorized a purchase of $384 at Walmart. I responded no. A representative called me FROM A WELLSFARGO NUMBER . He then asked if I had transferred $1800 to Donell on Zelle. I said no. He said I would have to close down the account and transfer that money into my “new account “. I asked if I dispute it . He said yes but that I will receive a a 90 day temporary credit and if the bank does not deem it as fraud then I will have to pay that money back. He then had me drive to my bank atm. Screen mirrored my call and told me what to press . Had me remove my current debit card from my Apple wallet (as wellsfargo has done in the past ), and put “my new debit card number “ and gave me a “temporary “ code to put in the atm. He had me hold my phone up to the atm, put in the pin he gave me and transfer my $1800 to what I believe was my new account . He then hung up. Wellsfargo refused to give me my money back . I am closing my bank account Tuesday. Please help.