Claims are now being filed against Wells Fargo by customers that had fake accounts created in their name as a result of the pressure for branches to make quota. These customers were charged with late fees and overdrafts and took hits to their credit score without ever authorizing a new account.
Wells Fargo required a quota from their branches, and when these quotas could not be reached, bankers began creating accounts in order to boost sales numbers. This process consisted of opening new accounts with existing customers’ names, using fake PIN numbers, and creating false email addresses. As a result, Wells Fargo will pay $185 million in penalties and $5 million in refunds to customers for use of deceptive, fraudulent, and deceptive tactics.
If you believe you have fallen victim to Wells Fargo’s consumer fraud, call The Buckley Law Group to arrange a free consultation with one of our experienced Wells Fargo fraud attorneys.