Two former Wells Fargo employees filed a class action lawsuit against the company on Thursday in California, arguing they were penalized for failing to meet sales quotas while following the rules and not engaging in fraud. The suit is seeking $2.6 billion for current or former Wells Fargo employees in the state who were demoted, fired or forced to resign after not meeting what the lawsuit characterized as “unrealistic quotas,” Reuters reported. Wells Fargo agreed to pay $190 million in penalties and customer payouts this month after revelations that the bank created credit, savings and other accounts in customers’ names without their knowledge. The class-action lawsuit filed Thursday in California Superior Court argues that the company promoted employees who opened fraudulent accounts, while penalizing those who did not, according to Reuters.

BING NEWS:
  • Wells Fargo tells state court why it should toss out $34M lawsuit from former CEO
    Wells Fargo wants a California state court to toss out a lawsuit filed by former CEO Timothy Sloan who claims the bank owes him $34 million in compensation. The San Francisco-based bank, which has its ...
    04/16/2024 - 10:50 pm | View Link
  • 'It's Not Right': Woman Claims She Lost $40K Without Warning as Wells Fargo Looked the Other Way, Highlighting Rash of Bank Mishaps Nationwide
    A Wells Fargo customer in Los Angeles says as much as $40,000 vanished from her account late last year, prompting an ongoing battle with the bank to get her money back as a rash of similar mishaps ...
    04/11/2024 - 7:30 am | View Link
  • More

 

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News