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A man who was in his 70s when he signed up for a new Wells Fargo checking account is suing the bank for age discrimination, saying he was forced to pay a monthly account fee a younger man wouldn’t have to pay.
Jimmy A. Sutton filed a proposed class action lawsuit against Wells Fargo in the Northern District of California – San José on Wednesday, seeking to represent a group of fellow Californians who may have had to pay undue fees with the bank due to their age.
Sutton takes aim at the bank’s policy of waiving the monthly fee on its Everyday Checking Accounts for customers aged between 17 and 24 years old.
“Wells Fargo’s conduct is unlawful,” the lawsuit states.
“The Unruh Civil Rights Act prohibits arbitrary discrimination based on an individual’s age. However, for checking accounts with identical features and benefits, Wells Fargo charges higher service fees to customers like Plaintiff who are older than 24 based solely on the customer’s age.”
Sutton said he was 74 when he signed up for a new checking account with Wells Fargo. His previous account with the bank had changed, and he was looking to avoid a new $30 monthly account fee he was being charged.
Sutton said the bank recommended he switch to an Everyday Checking Account, which requires either a $500 minimum daily balance or a $10 per month account fee.
However, this fee is waived if the customer is between 17 and 24 years old, the class action lawsuit states. When Sutton asked why he had to pay more, he said a representative told him Wells Fargo “wanted to attract younger customers who would be less willing to pay a fee.”
“Wells Fargo’s discriminatory pricing, which prejudices those older than 24, is the result of a deliberate business decision intended to maximize Wells Fargo’s profits,” the lawsuit states.
Sutton said he still has his Wells Fargo checking account, and is continuing to be charged a monthly service fee that he would not be charged if he were 55 years younger. He has complained multiple times about the fees to representatives, and had some of them reversed.
Sutton is suing the bank under the Unruh Civil Rights Act and California unfair competition law.
He is seeking certification of the class, damages of at least $4,000 for each offense, attorney’s fees, interest, restitution, an injunction on the alleged discriminatory practice, and a trial by jury.
Over the years Wells Fargo has faced a number of class action lawsuit and allegations from customers. In February, the bank agreed to pay $2 million to end claims it did not properly pay its home mortgage consultants and other employees.
In June 2020, a $20 million settlement was made in a class action lawsuit alleging the bank systematically denied those with “Deferred Action for Childhood Arrivals” status for various loans, including student loans and car loans.
In November, the bank agreed not to enter homeowners into mortgage forbearance plans without their consent after facing a class action lawsuit over the practice.
Do you think the monthly account fees you have to pay with your bank are charged fairly for all customers? Let us know in the comments!
The lawyers for the plaintiff are Gordon W. Renneisen and John C. Brown of Cornerstone Law Group.
The Wells Fargo Age Discrimination Monthly Fees Class Action Lawsuit is Jimmy A. Sutton, et. al. v. Wells Fargo Bank, N.A, Case No. 5:21-cv-01695, in the United States District Court Northern District of California – San José.
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74 thoughts onWells Fargo Faces Age Discrimination Class Action Over Checking Account Fee
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I too had to pay fees monthly just to have an account. Please add me to the CLASS Action
Add Me Please
Wells Fargo mailed me a letter telling me the same thing.
Same as other person commenting I also had to keep blank amount in account in order not to be charged monthly fees .
This is why I closed my Wells Fargo checking acct last year. Please add me
I have had a Wells Fargo bank checking account and have to keep a certain balance in the account to avoid the monthly fee.
We went through this bank
My mother is 94 & she is paying monthly fees.
Wow, Please add me….
I have been charged for $10 fee, since a Banker encourage me to modify my “Long and difficult Hispanic name”, into a “short and easy name” instead .
it is too late to said that hispanics customers from wells Fargo were was affected from bankers to claims credit and mortgage accounts with our Data.
now I understand why my Wells Fargo Mobile App was full of suspicious reported activity , address with linked accounts from Sioux Falls loan mortgage firm company.
with phishing encrypted mails from Straight talk apple ID, microsoft google netflix Philips TV that they are involved in this from charges that never do
this looks like 3 cases Law Suit