Wells Fargo phantom accounts News

Wells Fargo Banks on Arbitration to Settle Fake Account Claims

Wells Fargo & Co. is trying to keep dozens of customers suing over bogus accounts opened by its employees out of court, saying they agreed to resolve any disputes in arbitration when they began doing business with the bank. The …

California Wells Fargo Ex-Employees File $2.6B Class Action Against Bank

Two former Wells Fargo & Co. employees have filed a class action in California seeking $2.6 billion or more for workers who tried to meet aggressive sales quotas without engaging in fraud and were later demoted, forced to resign or …

Wells Fargo Facing Disclosure Questions Over ‘Phantom’ Sales Scandal

A phantom account scandal at Wells Fargo & Co. has put the U.S. bank’s disclosure policies under a harsh spotlight. Despite press reports that a federal regulator and the Los Angeles prosecutor were investigating sales practices at retail branches of …