Class Actions Blog

Posts Tagged ‘Wells Fargo’

Wells Fargo customers file another class action alleging they were overcharged for rate-lock extensions

Posted on: October 12th, 2017 by Steve Larson

Wells Fargo has been sued again, this time the complaint alleges that it bilked home loan borrowers by charging them extra fees when their applications were delayed — even when it was the bank’s fault. The new suit is the latest development in a growing controversy over the practices of the bank’s home loan unit and one of several new problems that have emerged at Wells Fargo over the last year in the wake of the bank’s sham-accounts scandal. An investigation has led to the departure of leading sales executives in California and Oregon.

For a link to an article discussing the Wells Fargo problems in more detail, click here.

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Class action filed against Wells Fargo Merchant Services for excessive fees

Posted on: August 24th, 2017 by Steve Larson

A class action has been filed against Wells Fargo alleging that its Merchant Services misleads customers and charged excessive fees for its credit- and debit-card-processing services. The complaint alleges that Wells Fargo Merchant Services inflates “pass through” costs, increases agreed-upon fees, and imposes new charges without telling new customers about these costs when they sign up. The complaint also alleges that an improper $500 termination fee is charged if a merchant wants to end the services.

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Wells Fargo takes advantage of consumers again – this time for auto insurance

Posted on: August 15th, 2017 by Steve Larson

According to a number of reports, Wells Fargo automatically signed up customers with auto loans for auto insurance, even if the customers were already covered by auto insurance. Then the insurer demanded payment for the auto insurance premiums, which put hundreds of thousands of people into default.

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Wells Fargo settles class action over marked up fees for appraisals

Posted on: November 28th, 2016 by Steve Larson

FeeWells Fargo has agreed to pay $50 million to a class of more than 250,000 mortgage holders to settle claims that the bank improperly marked up fees for third-party home appraisals following loan defaults in California.  The complaint alleged that although the mortgage agreements allowed Wells Fargo to charge borrowers for getting broker price opinions (“BPO’s”) from third-party real estate brokers, Wells Fargo secretly charged more for the BPOs than the bank paid for them.  A BPO is an informal type of home appraisal prepared by a real estate broker that a lender will typically demand once a borrower defaults on a residential loan.

The case is Latara Bias, et al., v. Wells Fargo & Co., et al., case number 4:12-cv-00664, in the U.S. District Court for the Northern District of California.

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Judge rejects Wells Fargo’s repeated bids to compel arbitration

Posted on: October 18th, 2016 by Steve Larson

FeeU.S. District Judge James Lawrence King ruled this week that Wells Fargo cannot force unnamed class members’ claims into arbitration in five lawsuits arising out of alleged improper re-ordering of overdraft fees that have been consolidated in multidistrict litigation in Florida.  The ruling came in three cases originally filed by Wells Fargo customers in Oregon, New Mexico, and Washington, as well as two cases that originated in Florida and California over the alleged conduct of Wachovia Bank NA, which Wells Fargo Bank NA later absorbed. Read more…

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Wells Fargo got away with setting up sham accounts for 5 years because of forced arbitration clauses

Posted on: September 21st, 2016 by Steve Larson

fine printAccording to a story published in the Hill, Wells Fargo’s scandalous practice of secretly opening more than 2 million sham deposit and credit card accounts dragged on for at least five years, because Wells Fargo contract provisions blocked consumers from suing the bank in court. Read more…

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This blog is intended to provide information to the general public and to practitioners about developments that may impact Oregon class actions.

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  • Steve Larson

  • Steve Larson
  • Steve Larson has been representing investors, consumers and employees in class actions in Oregon for over 20 years. He is a shareholder at the law firm of Stoll Berne in Portland, Oregon.
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