Wells Fargo Ordered to Pay $185 Million
The Consumer Financial Protection Bureau recently caught Wells Fargo setting up more than 2 million fake accounts that its customers hadn’t asked for in order to try and reach product sales goals. After being fined $185 Million, Wells Fargo has responded by firing 5,300 employees who are believed to have opened these phantom accounts. They have also removed the unrealistic product sales goals for retail bankers in attempt to prove to its customers that they still have their best interests in mind. If you have an account with a bank that has pressured you into opening additional accounts, or has opened accounts without your authorization, you may have a case against them. Fitapelli & Schaffer, LLP is investigating other banks that have similar practices. Check your account statements and if you notice something unusual, or feel you may have been a victim of this, please call us for a free consultation with one of our experienced attorneys. You can reach us at (212) 300 – 0375 or visit our website fslawfirm.com.