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Wells Fargo Debt Collection Practices Investigation

Has any bank ever had such a variety of class action lawsuits filed against it as Well Fargo?

There were the sham accounts, accusing Wells Fargo staff of opening fake bank and credit card accounts in the names of real customers, charging them fees, putting them at risk of fraud, and sometimes damaging their credit ratings. There was the home-loan discrimination case in which the bank disfavored borrowers in minority areas. There were at least three cases involving the charging of improper fees, on mortgages, ATM use, and bankruptcies. A California case alleging that employees were misclassified so the company could avoid paying overtime. At least three cases on violations of the Telephone Consumer Protection Act (TCPA). A mortgage payoff statement class action. A merchant services case. Two vehicle repossession class actions…

You get the idea. This doesn’t look like a company that strives to play by the rules and treat its customers fairly. And a company that cuts legal corners in one area is likely to do so in other areas as well.

What we want to know is, How does it treat customers who owe money on their credit cards? Is its behavior towards debtors fair and legal?

We’re investigating Wells Fargo’s debt collection practices, to see if a class action is needed to correct their behavior and compensate customers in this area as well.

Here are some kinds of behavior that state and federal laws forbid:

  • Harassing you, for example by making your phone ring repeatedly.
  • Sending debt collection letters that are confusing.
  • Sending debt collection letters that contain misstatements or misrepresentations, such as misstating the amount of the debt, falsely claiming that the sender is lawyer, or threatening to take action that the sender can’t legally take.
  • Trying to collect debts which you have already paid or which have been discharged in bankruptcy.
  • Trying to collect old debts for which the statute of limitations has expired.
  • Adding extra fees and charges to the amount you owe.
  • Talking about your debt to third parties, such as family, friends, or employers.
  • Robo-calling you on your cell phone about your debt.
  • Calling you too late at night or too early in the morning, or calling you too many times.
  • Refusing to stop calling when you ask them to.
  • Threatening you.

Laws vary in different states, but the TCPA—which forbids robo-calls about debt to cell phones—is a federal law that applies in all fifty states.

If you’ve experienced questionable debt collection practices with a Wells Fargo credit card, fill out the form on this page and attach evidence, such as letters received or cell phone numbers called and dates of calls.

Article Type: Investigation
Topic: Consumer
No case events.
Tags: Unlawful Debt Collection