Home > Lawsuits > Wells Fargo Facing Consumer Banking Fraud Class Action Lawsuit
Wells Fargo Facing Consumer Banking Fraud Class Action Lawsuit
May 14 2015
San Francisco, CA: Wells Fargo & Co. is facing a class action lawsuit filed by a former customer who alleges that Californias largest bank engages in consumer banking fraud. Specifically, Shahriar Jabbari of Campbell, CA, alleges that he and a nationwide class of consumers were victims of Wells Fargos tolerance and encouragement of abuses by workers in its branches. The allegations are unfair enrichment and violations of the federal Fair Credit Reporting Act (FACTA) and California unfair competition and consumer protection laws.
According to the lawsuit, Jabbari began banking with Wells Fargo in 2011, wanting simply to open one checking and one savings account. However, shortly after opening his accounts, he allegedly noticed some anomalies, such as unwanted fees. Then in 2013, the lawsuit states that Jabbari visited the Wells Fargo branch in Los Gatos to ask about an unauthorized charge. Thats when an employee showed him how accounts had been opened in his name using a signature that was not his, according to the complaint.
The complaint states that Jabbari discovered seven accounts issued without his permission. A few months later, he received a change of address notification showing several accounts that he had not opened and that he thought had been closed.
Jabbari alleged that bill collectors badgered him to pay fees on Wells Fargo accounts that were opened without his knowledge. The suit alleges that bank employees: Withdrew money from customers' authorized accounts to pay for the fees assessed by Wells Fargo on unauthorized accounts opened in customers' names without their knowledge; placed customers into collection when fees and other debts accumulated in unauthorized accounts and went unpaid; and placed derogatory information in credit reports when unauthorized fees went unpaid.
The lawsuit, filed in US District Court in San Francisco, seeks restitution from the profits Wells made on its unfair and unlawful practices, In addition to triple damages.
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I filed fraud with Wells Fargo due to a charge on my account for over 2000.00 waited for 45 days went into my home branch sat down with a banker at his desk and we discussed the claim , he explained yo me the charges were reversed and the the money in my account was available to me!!! I made a large withdraw ... The next thing I know my account was overdrawn 2500.00 and I have never been able to get one of those employees to discuss the issue I filed to close the account. No response!! Nothing. But now I can't open an account anywhere that's showing I owe it's completly destroyedme financially!!! It's not a couple hundred dollars. We are talking 2500.00 ...
Posted by Darryl Boyer, Donyell Dennis
My husband and i along with my son had open accounts last year my husband but in a large amount of money i had a few thousand and my son had minimal money in his account, well long story short we all were getting notices of insuficient funds, and they took well over $6000 dollars out of my husbands account repaid some but not all. asked for reports for all three accounts only to be told they can only go back so far, we also were in with overdraft fees ect., eventually i along with my sons account was closed out...Help
Posted by Christina
I lost my debit card and notified Wells Fargo, they said they would cancel my debit card and send me a new one. They sent me a new one however they allowed debits to withdraw from my account in another state. When I called, 3 different times, they finally said they would wave the overdraft fee as a courtesy. I was so upset by all of this I decided to close all of my accounts with Wells Fargo. Fast forward to October Wells Fargo says I only thought I closed all of my accounts, one was still open and had continued to have debits deducted, is negative and I have been sent to collections!!!
Posted by jane palmer
Want to join class action lawsuit. Bogus bank accounts wells Fargo
Posted by Debra Quesenberry
Wells Fargo charged me large fees because they did not post my payments in a timely manner resulting in overdraft fees.
Posted by Samantha Thibodeau
Hi my name is Samantha and I live in the state of New Jersey. I had a banker aggressively solicite me while I was at Wells Fargo to take care of other business. He told me lies withheld important details pertaining to a personal line of credit. He explained to me that it is better for me to do what he was telling me. Half way through the process I told him lets for get this I don't want to do this personal line of credit because I don't understand and I have many credit cards anyway and I don't need it. He said ok just sign here. I signed the little pad. And I thought he stopped it. He did not do what I asked him. So he ran my credit anyway without my permission. I knew he was trying to push me into something I did not need. I knew it was for the banks benefit. Also, he did not disclose the correct information. I had a meeting with the branch manager. She never got back to me. In addition, this same gentleman at the same branch did the same actions to my boyfriend. Checked his credit with his permission. But told him a bunch of lies and gave him directions to move credit cards to personal line of credit. Now if you see our accounts it's all set up so that the bank is the one who is benefiting from what the did to us. We owe the bank money and there are fees there as well. We both went to a die rent branch and the personal banker at a different branch took both of our ID and credit cards we have together and he gave us a lot of proof of what the other branch at Wells Fargo did to us and he contacted the manager at the branch that it happened and he told her what happened. She was very scared. The personal banker at the other branch told us to contact a lawyer and gave us his card. He told us what that branch did was to benefit Wells Fargo. All transactions were not in our best interest. Please contact me asap. I am looking for an attorney to help me with this. Thank you so much.
Posted by Maria Dills
I thought all banks did this? I know B of A would allow my checks to go through and then charge me an overdraft charge, same thing with Chase, and especially Wells Fargo,same as US Banks. I finally stopped banking and decided to buy a debit card. I owed too much money for returned checked.
Posted by Terry Floyd
Wells Fargo depleted all my deposit accounts negative balance thousands of dollars and fabricated high interest high balance debt on liability accounts. In addition, Wells Fargo fabricated defaults on home mortgage and HELOC accounts with manipulative accounting by withholding timely payments to incur unwarranted fees and charges with intent to skim high equity and illegally foreclose primary and second homes, both having low principal loan balance.
I had 8 WFB ACCOUNTS: 1. Personal Checking, 2. Business Checking, 3. Platinum Mastercard credit card, 4. HELOC secured with primary residence 5. Home Mortgage 2nd home 6.Minor child Checking (17 yr old) 7. Minor child Savings 8. Minor child Platinum Mastercard credit card.
I deposited excess of $100,000 in checking first half 2004. I did not have any outstanding debt except the mortgages on my Primary residence in Az and the 2nd home in Iowa. Both homes high equity/low mortgage balance. I could have paid both home loans in full with the cash in my checking account in July 2004. The monthly mortgage payments were low. Each approx $500.
If we used our credit cards we paid the full amount due on the monthly statement to avoid any finance charges.
July 26, 2004 WFB called me to verify activity on one of my accounts. WFB faxed copy of 2 checks to me in Iowa that were processed and paid that day. Wells Fargo explained these checks were not from my checking accounts, but were " convenience" checks that were included in bank promotional mailers. These checks accessed the HELOC account. I never had any checks for this home equity line of credit.
The Heloc was originated and approved in a matter of minutes over the telephone. I received a call at home from WFB April 2000. The bank rep wanted to thank me for being a loyal customer. My financial accounts were opened at NORWEST bank. I received notice of the merger advising me my NORWEST accounts will now be serviced by Wells Fargo using the same Norwest account numbers and will continue to process NORWEST checks as a convenience to Norwest account holders. I originally had 3 opened accounts. 1. Business checking 2. Personal checking 3. Minor child savings.
If I knew then what I know now, I would not have taken that call from WFB. I would have realized I was targeted via WFB telemarketing deceptive predatory business practices.
These were the days of the 'personal' banker. We were all ignorant of the different degrees of consumer risk of loss associated with the different types of financial institutions and the regulatory powers that be for the type of bank .
The OCC and National Banks ...if people really knew their risks for total financial loss as a direct result of doing business in this arena.
As it turns out the 2004 fraud a direct result of WFB compromising all my financial accounts. Negotiating access eith a repeat offender known by Wfb to have accessed other customer accounts fraudulently before mine. The details and events that unfolded over the past decade would horrify anyone. I do not have time to go into it now, but can validate every thing I allege with supporting docunenration. My 800 fico dropped so low so fast . The kid who negotiated convenience checks on my home equity truly a patsy for Wfb. Wfb depleted my accounts and fabricated the high interest debt. Wfb aggressively pursued my assets. Wfb did not prosecute the repeat offender.
This is organized crime...rampant.. And someone please tell me why these are not prosecuted as RICO cases?
Posted by C Thomas
Wells charged me with over 5000 dollars in overdraft fees etc in a year and a half. They time the transactions to set you up to fail- instead of declining transactions they push them through and then charge you 35 dollars for each transaction that they do this with. Putting me in a overdraft snowball effect. I lost my business and my home. I explained to them I was dyslexic and still no help or resolution. Wells Fargo is evil.
Posted by donna thiersch
Wells Fargo in San Diego allowed a daughter to sign her fathers name with access to his checking account and trust funds after he died March 3, 2015. Shw was his power of attorney only while he was alive,. She withdrew over Three hundred and eighty thousand for herself. This was regardless of the trust and wills instructions for benficaries to receive funds from his trust. They had his death certificate and his trust in their file but told the other co-trustee the account was frozen till both co-trustees were present to distribute the funds. However the funds were withdrawn on Jan. 2, 2016 and the account is closed. Wells Fargo refuses to supply and documents regarding the account activity nor the checking account and credit card used since March 3, 2015 by trustee impersonating his signature .
Posted by Tracy gorman seymour
I was a customer ad wells Fargo I had a checking had,a a saving . wells Fargo made me open this acount in order to cash my paycheck. My paycheck was threw wells Fargo that was,bullsh*t
Posted by Ronald Yarbrough
I opened up a bank account with Wells Fargo in 2014. I have a perfect record with them until October, 29,2014 and Nov 5, 2014. On these dates they charged me a $20 overdraft transfer fee from my credit card twice. I initially had it setup from savings and the money was in my account out that day but when I called to get this reimbursed they would not refund these charges, and they have done it before for other customers reimbursement. Then Wells Fargo Credit Card Dept charged me an unauthorized charge of $25 stating I paid my bill on the
5th of November and that's the day I paid it. They said it was due on 4th. I'm on SSD and can barely make it. This grand total of $65 is a lot of money to me and also it's the point of the matter how many other customers are they doing this too.They would not allow me to dispute the matter or locate the recording we had when I changed date to the 5th of the month. We need to stop this power from banks just taking fees out of customers accounts at their free will. It's my word against there's and they always win with no backup proof. Someone needs to look into their practices on these matters.
Posted by Kristi Ann Green
I became a Wells Fargo customer and opened a checking and savings account. I discovered that Wells Fargo kept open accounts that I closed in addition to having additional accounts opened in my name without my consent or authorization or knowledge. All of these accounts accumulated fees. When I asked Wells Fargo about these unauthorized accounts in my name and also why my address had been changed not by me the company wide response was "We don't know."
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