Wells Fargo and Mississippi Iron Works Credit Card RICO and TILA Class Action

According to the complaint for this class action, when plaintiff John Edward Meeks agreed to take out a loan for new window and door home protection from Mississippi Iron Works (MIW), he had no idea that what he was doing was applying for a Wells Fargo Home Projects Credit Card.

It started, the complaint explains, when Cary Crawley, the owner of MIW, made door-to-door sales visits to Meeks’s neighborhood. The month before, an elderly lady there had experienced a home invasion and robbery, and the complaint claims that Crawley was hoping to sell some window and door protection.

Meeks did agree to purchase custom security doors, a set of double doors, and security screens to be installed on his first-floor windows, at a cost of $13,950. The MIW Work order and invoice Meeks has says that the items would be financed by a “60 months no interest” closed-end loan.

According to the complaint, during Crawley’s visit, Meeks was intentionally misled and never heard the words “Wells Fargo” or “credit card.” He claims he never filled out or signed a credit card application or saw any terms for the credit card, which include an APR of over 30%, high late fees, and a hidden waiver of class-action rights in favor of forced arbitration.

In fact, the complaint claims that because of “widespread, intentional, and systemic fraud,” Wells Fargo has now terminated that credit card product line.

The complaint alleges that, as a standard practice, Crawley or other salespeople fill out the paperwork, and claims this is done as a deliberate deception, so that the consumer never learns the details of what he’s actually applying for. The complaint further says that Wells Fargo reports the credit cards as open-ended, revolving credit accounts, which may harm the credit histories of consumers.

The complaint alleges that this scheme requires a collusion between the defendants that violates the Racketeer Influenced and Corrupt Organizations (RICO) Act. In addition, it claims that the defendants violated the Truth in Lending Act (TILA) and committed fraud, among other things.

The classes for this action include a Nationwide TILA Class, consisting of all persons in the US who suffered injuries as a result of Wells Fargo and Mississippi Iron Works violations of the Truth in Lending Act, in the form of being signed up for an authorized Wells Fargo Visa Home Projects Credit Card, from 2010 to the present. There are several other classes and subclasses: a Mississippi TILA Subclass; a Nationwide RICO Class and Mississippi RICO Subclass; a Nationwide FCRA Class and Mississippi FCRA Subclass; a Nationwide Fraud Class and Mississippi Fraud Subclass; and a Mississippi Consumer Protection Act Class.

Article Type: Lawsuit
Topic: Consumer

Most Recent Case Event

Wells Fargo and Mississippi Iron Works Credit Card RICO and TILA Complaint

September 15, 2017

According to the complaint for this class action, when plaintiff John Edward Meeks agreed to take out a loan for new window and door home protection from Mississippi Iron Works (MIW), he had no idea that what he was doing was applying for a Wells Fargo credit card—specifically the Wells Fargo Home Projects Credit Card. The complaint alleges that, as a standard practice, the salesperson fills out the paperwork, and claims this is done as a deliberate deception, so that the consumer never learns the details of what he’s actually applying for. The complaint further says that Wells Fargo reports the credit cards as open-ended, revolving credit accounts, which may harm the credit histories of consumers. Among the complaint’s allegations are violations of RICO laws and the Truth in Lending Act.

wells_fargo_revolving_credit_complaint.pdf

Case Event History

Wells Fargo and Mississippi Iron Works Credit Card RICO and TILA Complaint

September 15, 2017

According to the complaint for this class action, when plaintiff John Edward Meeks agreed to take out a loan for new window and door home protection from Mississippi Iron Works (MIW), he had no idea that what he was doing was applying for a Wells Fargo credit card—specifically the Wells Fargo Home Projects Credit Card. The complaint alleges that, as a standard practice, the salesperson fills out the paperwork, and claims this is done as a deliberate deception, so that the consumer never learns the details of what he’s actually applying for. The complaint further says that Wells Fargo reports the credit cards as open-ended, revolving credit accounts, which may harm the credit histories of consumers. Among the complaint’s allegations are violations of RICO laws and the Truth in Lending Act.

wells_fargo_revolving_credit_complaint.pdf
Tags: Credit Cards, FCRA, Misrepresenting Terms of Loan, Misrepresenting Type of Loan, Truth in Lending