By Jonnelle Marte, The Washington Post One major group directly affected by the Wells Fargo scandal — the customers who had fraudulent accounts opened in their names — may have their hands tied. As lawmakers pointed out at congressional hearings Thursday and last week, many Wells Fargo customers are blocked from suing the company because of arbitration clauses, little-known contracts that often ban customers from taking part in class-action lawsuits.
Wells Fargo Customers Won’t Be Able To Sue The Bank Over Fake Accounts
The Washington Post, Denver Post: Business
Fri, 09/30/2016 - 7:35am
Topics: marte the washington post thursday s rep brad sherman d.-calif ceo related articlesseptember bank but sherman sherman no stumpf sherman if wells sen sherrod brown d-ohio federal consumer financial protection bureau supporters los angeles michael feuer california on thursday house senate sen elizabeth warren d-mass in wells fargo sherman stumpf september a fed if warren won sue arbitration consumers clauses costs opened part court action class asked lawmakers clause credit lawsuits people pointed company names suing week companies regulators affected advocates harmed filed lawsuit executive process representatives hurt hearing suit
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A former Wells Fargo senior manager just agreed to pay a $40,000 fine and turn his back on the banking industry.
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(Angus Mordant/Bloomberg News) Wells Fargo’s first-quarter earnings and revenue beat Wall Street's expectations. The San Francisco bank earned $4.6 billion, down 7% from around $5 billion a year ...
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Wells Fargo's net ... the quarter. The bank is operating under a $1.95 trillion asset cap that prevents it from growing until regulators deem it has fixed problems from a fake accounts scandal.
04/12/2024 - 7:52 am | View Link - More
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