Wells Fargo couldn’t get through last month and this month with new scandals

Here is the lawsuit. Click here.

 Deal Breaker

Alas: Wells could not get through February without seeing that streak end.

Matthew Valles, a former fraud investigator for Wells Fargo in Portland, Ore., said the bank fired him in January in retaliation for his internal complaints about “hundreds” of mishandled fraud investigations….

Wells Fargo customers, however, have complained that the bank was too quick to freeze or close accounts after signs of fraud — even if they themselves reported the suspicious activity. The consumer bureau’s complaints database contains dozens of reports from aggrieved customers who said their accounts had been shut down after they were victimized. Some customers who unknowingly deposited fake checks, for instance, said their accounts had then been terminated, often with little warning or explanation.

 

Nor shall March mark the beginning of a new streak:

Wells Fargo on Thursday disclosed the board’s investigation in a securities filing, saying it was “in response to inquiries from federal government agencies.”

The bank said the board’s review is assessing “whether there have been inappropriate referrals or recommendations, including with respect to rollovers for 401(k) plan participants, certain alternative investments, or referrals of brokerage customers to the company’s investment and fiduciary services business.”

https://justiceleaguetaskforce.wordpress.com/2018/03/03/wells-fargo-couldnt-get-through-last-month-and-this-month-with-new-scandals/

Sharing is caring!