Chat Banner

Can We Help You?

Wells Fargo Ordered to Pay $575 Million Regarding Unfair Trade Practices

Unfair Trade PracticesIn a recent case the Attorney Generals for all 50 States in the United States and the District of Columbia reached a settlement with Wells Fargo Bank. The settlement involves a variety of consumer protection claims and unfair trade practices utilized by Wells Fargo Bank. The settlement was in the amount of $575,000,000.

Wells Fargo Acted Improperly

Wells Fargo agreed to this settlement based on numerous improper actions it took and laws it violated. Among the many improper actions and laws it violated Wells Fargo charged customers for mortgage rate lock extension fees.

Wells Fargo has acknowledged millions of deposits, credit card and other accounts were created without the consumer’s permission. Wells Fargo was involved in the transfer of funds without consumer authorization. Wells Fargo acknowledged these improper actions took place between 2002 and 2017.

Texas Attorney General Ken Paxton stated “the settlement held Wells Fargo accountable for its widespread victimization of its customers through unfair and deceptive trade practices.”

Wells Fargo Acknowledges Problems

Wells Fargo’s Chief Executive Officer Tim Sloan stated: “this agreement disclosed our serious commitment to making things right in regard to past issues as we worked to build a better bank.”

schlissel-headshotElliot S. Schlissel, Esq. is the managing partner of Schlissel DeCorpo LLP. Elliot is a foreclosure attorney. He represents homeowners with regard to mortgage modifications and defending foreclosure lawsuits throughout the Metropolitan New York area. He can be reached for a free consultation at 800-344-6431 or e-mailed at Elliot@sdnylaw.com.

Foreclosure Defense in Valley Stream, Lynbrook, Baldwin, Malverne, Freeport, Oceanside, Long Beach, Elmont, Lakeview, West Hempstead, Hempstead, Merrick and Bellmore, New York

  • viewimg1
  • viewimg1
  • viewimg2
  • banner-changes

We represent individuals throughout the New York Metropolitan area with divorce and child custody, personal injury, car accident, wrongful death, estate administration, nursing home and medicaid issues

The information you obtain at this website is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your particular legal issue. This is attorney advertising.

Copyright © 2018 By The Law Offices of Schlissel DeCorpo. All Rights Reserved. Concept, Design and Hosting by GetLegal Web Development Team.