Girard Gibbs Law Firm Announces Investigation of Unauthorized Account Creation at Wells Fargo

SAN FRANCISCO–(BUSINESS WIRE)–Attorneys at Girard Gibbs, a consumer protection law firm, are
investigating reports that Wells Fargo used customers’ private
information to open unwanted accounts. According to federal regulators,
Wells Fargo opened as many as 1.5 million checking and savings accounts,
and more than 500,000 credit cards, without customers’ knowledge or
consent. As a result, customers may have experienced adverse impacts to
their credit ratings and paid higher loan charges and fees and suffered
other damage.

Federal Authorities Allege Widespread Illegal Banking Practices

Federal Regulators recently determined that Wells Fargo engaged in the
following illegal practices:

  1. Opening unauthorized deposit accounts and transferring funds to those
    accounts from legitimate accounts;
  2. Using customers’ private information to submit credit card
    applications in customers’ names without their knowledge or consent;
  3. Enrolling customers in online banking services they did not request;
    and
  4. Using customers’ private information to order and activate debit cards
    without their knowledge or consent.

Regulators believe these unlawful practices arose as a result of Wells
Fargo imposing unrealistic sales quotas on its employees and failing to
monitor employee activity with adequate care.

Did Wells Fargo Open an Unauthorized Account in Your Name?

If you believe you experienced financial harm or damage to your credit
rating as a result of Wells Fargo’s opening one or more unauthorized
bank accounts or credit cards in your name, we may be able to help.
Please call toll-free (866) 981-4800 or email eyn@girardgibbs.com
for more information.

Girard Gibbs’ Financial Fraud Experience

Our attorneys have over 20 years of experience representing consumers in
cases involving financial fraud by banks, lenders, insurers, credit card
companies, financial groups, and publicly traded corporations. We have
recovered hundreds of millions of dollars on behalf of our clients in
collective and class actions nationwide. To speak privately with a
consumer protection lawyer, call toll-free (800) 254-9493 or email eyn@girardgibbs.com.

Attorney advertising. Prior results do not guarantee a similar outcome.

Contacts

Girard Gibbs LLP
Esfand Nafisi, 415-981-4800