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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 got “free checking & savings” when I first opened my account due to direct deposit and automatic transfers monthly from my checking to my savings. They told me I would have to start paying a service charge because this “option” was being removed and they were only offering “free checking ” to student age 18-24. I eventually moved my account from Wells Fargo to Alabama One. I still have my credit card at Wells Fargo.
I was charged $10 this month because I am over the age of 24. I have been with Wells Fargo for over 10 years now and to have them tell me that I have to pay a monthly fee so people younger than me can have a free account is an absolute slap in the face. They should make a separate college checking account for that and not use the everyday checking account.
I’ve been told the same thing. Originally I was told it was because that age range was college aged and they were trying to recruit new accounts, but I am in college too and I’m a long standing customer. I mostly use other banks that pay me monthly for the use of my debit card. I have none that make me pay them?! I’ve now been charged the WF fee the last couple of months, so they obviously believe this class action has no merit and they can do whatever they please. Bank of America was hit with the same class action in December of 2019, for waiving fees for under 24 but not other ages in college. Also, banks are getting sued for age discrimination in employment. How is any of this legal?
Wells Fargo is closing a grandfathered personal line of credit that I have had for years.Can they just do this?It was a product they had for overdraft protection. They also charge me fees for a checking account I have with them.
Wells Fargo is closing a grandfathered personal line of credit that I have had for years.Can they just do this?It was a product they had for overdraft protection. They also charge me fees for a checking account I have with them.
I have a checking and savings acct thru them and still paying fees from having the accts. Please add me
Add me. I’ve received the same communication from Wells.
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Add me. I had an account there at that age and when I went thru the drive thru I filled out the form to withdraw some money and I sent it to the teller. She greeted me and asked how I would like my money back. She sent the money but the didn’t send my driver license so I asked for it back and she responded “it seems like a fraudulent account.” I asked how and everything matches from my ID and the account. She then said “I’ve called the police,” I said “ok.” I had nothing to be worried about. I sat there and waited, talking on the phone with my step-dad. 30 minutes past and NO POLICE. I pushed the button and said WHERE IS THE POLICE? YOU DIDNT CALL THEM BECAUSE IF YOU DID THEY WOULD HAVE BEEN HERE. I asked her for my stuff and she refused again so I asked for the manager and she said she was the manager. DANG!!! I called the police, as much as I hate the police I did. They(3 cars) came and asked her what’s going on. WAIT I CALLED..WHY YALL GOING TO HER FIRST? They got my driver’s license back and soon as I drove around the building they pulled me over and put me in handcuffs. My mom called and I had my Bluetooth in and I managed to lean over and push the button with neck and answer it. The female office had phone in her front pocket. I was whispering to my mom that they let me go but had me in the car and were trying to get a DA to press charges and wouldn’t tell me what charges. My mom was about to be on her way until she heard them say they couldn’t get anybody on the phone. Oh but they next day I went to the main office a d talked to the REAL MANAGER a d told her about my EXCITING DAY I had the day before. She called the lady over and she looked at the footage and as far as I know she was let go and I closed my account but some how I found a NEW ACCOUNT IN MY NAME THERE.