Summary: California, Illinois, Philadelphia, Seattle, Chicago, New York City and other municipalities suspended or ceased business with Wells Fargo after their many scandals were...
Corrupt Management and Sales Culture
Summary: Wells Fargo management perpetuated a “control fraud” scam whereby top executives earned a fortune from cheating its customers while leaving its employees and...
Historic Sanctions and Fines
Summary: Between 2012-2015, regulators extracted $10.4 billion in total misconduct penalties from the bank. Wells Fargo agreed in 2016 to pay $185 million to...
Ongoing Divestiture
Summary: California, Illinois, Philadelphia, Seattle, Chicago, New York City and other municipalities suspended or ceased business with Wells Fargo after their many scandals were...
Fake Accounts Scandal
Summary: Over a 5+ year period Wells Fargo opened 3.5 million fraudulent bank accounts and credit cards for customers who didn’t ask for them,...
Mortgage Fee Fraud
Summary: The CFPB fined Wells Fargo hundreds of millions more for fraud within their Mortgage Division. The division wrongfully charged customers fees to extend...
Auto Loan Insurance Scam
Summary: Wells Fargo forced unnecessary and unwanted auto insurance on hundreds of thousands of borrowers who already had insurance. Once again, when customers complained,...
Racial Discrimination in Lending and Banking
Summary: Wells Fargo paid $175 million to settle a lawsuit brought by the Justice Department and the Office of the Comptroller of the Currency...
Financial Abuse of Service Members
Summary: In 2015 the OCC made WF pay $28 million to members of the armed forces to settle allegations that the bank improperly foreclosed...
Stealth Mortgage Modifications
Summary: Wells Fargo mortgage division engaged in a routine practice of “stealth” mortgage modifications to sneak through changes to unsuspecting homeowners in bankruptcy without...