Wells Fargo class action lawsuits overview:ย
- Who: Consumers recently filed several class action lawsuits involving Wells Fargo.ย
- 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.ย
- Where: The class action lawsuits were filed in U.S. federal courts.ย
Consumers recently filed several class action lawsuits against Wells Fargo regarding bounced check fees, fraud reimbursement, an alleged Ponzi scheme and a marketing scam.ย
Wells Fargo charged unlawful bounced check fees, class action claimsย
A consumer filed a class action lawsuit against Wells Fargo earlier this month over claims the bank charges unlawful $12 bounced check fees.ย
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.ย
โGenerally, a customer depositing a check anticipates receipt of the funds,โ the Wells Fargo class action says.ย
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.ย
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.ย
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.ย
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.ย
โBecause defendant failed to reimburse plaintiffs and the class for the unauthorized electronic transfers, defendant has violated (the Electronic Funds Transfer Act),โ the Wells Fargo class action says.ย
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.ย
Wells Fargo aided, abetted Ponzi scheme involving elderly, class action claimsย
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.ย
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.ย
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.ย
โWells 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,โ the Wells Fargo class action says.ย
Class action says Wells Fargo knowingly participated in marketing scamย
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.ย
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.ย
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 โmountain of factsโ exists that show the bank knew about the fraud for years.ย
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79 thoughts onWells Fargo hit with recent class actions over fees, marketing, more
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While I was hanging on by a thread in the hospital I was unaware of the fact that someone had taken my wallet when I was in the ambulance. A month passed while I was in ICU. As soon as I was able to call the bank I did. I just wanted to order a new card but found out that over $5000 was gone. I cooperate fully with them emailing them my hospital records that I got an email back saying they received it. I did this 4 times because they said they never received it. I found out who did it and helped the investigators. They recovered most of the money but never paid me. I was in the bank so much that they called the police on me because I refused to leave until someone would explain it to me. I was never rude, loud but they where.
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Wells Fargo continued chatting fees after my husband DIed!
And gives credit cards to kids with no job
Since banking with Wells Fargo starting in 2012 I had been charged numerous $35 Insufficient fund charges time and time again due to my Direct Deposit retirement check being deposited after my debit amounts which hit the same day and would be repeatedly be charged because of the $35 insufficient fund charges putting me further in the whole because of my Direct Deposit retirement deposits always being posted after my debit amounts which would be made the same date. I am on a fixed income and $100, $200 and $300 charges at numerous times have destroyed my life. I am a 72 year old woman on a fixed retirement income single handledly supporting myself and my granddaughter who lost her mother due to a heinous murder 5 years ago and this insufficient fund charge scam has set me back for life and I as of yet have not been able to recover. I worked my entire life of which 16 yrs. was for the State of Nv for Clark county and to have this debacle ruining my life just seems so unbelievably cruel. Thank you for your time and hopefully a just solution.
I used to be a member of Wells Fargo back in 2014 and used to be a security guard had a Credit score of 700 in my 20s and experience identity though in 2015 and 2016 an 2017 and wells faro sold my information and found out My credit card was canceled and they told me I did it when I trying to use it inside the bank and somebody pretend to be me and called in and switch my information in order a new credit card to a different address and bank branch manager notice can call the number In front of me and the guy pick up the phone trying to beat me in front of the manager I over the phone and that day I knew my whole identity was stolen and I lost Thousand dollars and had to cancel my credit card and close out my bank account and it hurting my credit score went from 700 to 300 and low and it took 7 years later to get a new Credit card and my Credit still bad from this day at the Age 33 over some one els
We have been in a modification 3 times. This last modification ended with out mortgage over by $400 more before the modification. We are on Social security and are 62 and 67 years old. The new year since modification for our loan to be paid off is 2068 . Really Wells Fargo are you serious. I called Wells Fargo over 20 or more times to let them know the new mortgage amount 1800 is more than both of our Social security checks. The reason for the modification was to try to get lower amount since 2014..But it went from 1475 to 1800 . This is most definitely a setup for only a win win for Wells Fargo. I submitted several complaints but all we get is ..we are following Wells Fargos Procedure. I pray I can go on news for now and want to tell all what is happening to us. Please help us
It would behoove to investigate the parallel practices of Nationstar Mortgage dba Mr. Cooper.
WF when are criminal charges going to be filed? Oh wait I knowโฆ NEVER! This company has been getting away with illegal activities for decades, any one individual would already be in the clink.