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Thursday, May 7, 2015
LA Suit Accuses Wells Fargo Of Misusing Consumer Data
The City of Los Angeles is suing Wells Fargo, alleging some bank employees in the state have been pressured to adopt “unfair, unlawful and fraudulent conduct” against customers, including but not limited to misusing confidential data.
In a civil suit filed Monday (May 4), L.A. City Attorney Mike Feuer claimed that Wells Fargo opened unauthorized accounts in customers’ names, refused to close those accounts even after those customers complained, and even “raided” client accounts for funds to open new accounts – all in an effort to meet sales quotas.