SAN FRANCISCO--(BUSINESS WIRE)--Attorneys at Girard Gibbs, a consumer protection law firm, are investigating reports that Wells Fargo used customers’ private information to open unwanted accounts. According to federal regulators, Wells Fargo opened as many as 1.5 million checking and savings accounts, and more than 500,000 credit cards, without customers’ knowledge or consent. As a result, customers may have experienced adverse impacts to their credit ratings and paid higher loan charges and fees and suffered other damage.
Federal Authorities Allege Widespread Illegal Banking Practices
Federal Regulators recently determined that Wells Fargo engaged in the following illegal practices:
- Opening unauthorized deposit accounts and transferring funds to those accounts from legitimate accounts;
- Using customers’ private information to submit credit card applications in customers’ names without their knowledge or consent;
- Enrolling customers in online banking services they did not request; and
- Using customers’ private information to order and activate debit cards without their knowledge or consent.
Regulators believe these unlawful practices arose as a result of Wells Fargo imposing unrealistic sales quotas on its employees and failing to monitor employee activity with adequate care.
Did Wells Fargo Open an Unauthorized Account in Your Name?
If you believe you experienced financial harm or damage to your credit rating as a result of Wells Fargo’s opening one or more unauthorized bank accounts or credit cards in your name, we may be able to help. Please call toll-free (866) 981-4800 or email email@example.com for more information.
Girard Gibbs’ Financial Fraud Experience
Our attorneys have over 20 years of experience representing consumers in cases involving financial fraud by banks, lenders, insurers, credit card companies, financial groups, and publicly traded corporations. We have recovered hundreds of millions of dollars on behalf of our clients in collective and class actions nationwide. To speak privately with a consumer protection lawyer, call toll-free (800) 254-9493 or email firstname.lastname@example.org.
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