credit2011

WELLS FARGO -deceptive sales practices.How will affect collections.

Recommended Posts

For those who have been sued by Wells Fargo for credit collections, how will this event about Wells Fargo fraud in the news recently affect  those who lost their lawsuits and those that are still going forward? How do those know their accounts were fraudulent when the bank said that you get free additional accounts when you open a checking or saving account and they used your ss# fraudulently and you did not realize it to open credit card? Can you even appeal your lost lawsuit? Would they have to supply a signed document by you to prove they opened the account in good faith?

Share this post


Link to post
Share on other sites

They have several orders against them you'd have to read the detail but in the past orders against other banks and JDBs much of the activity is automatic if a lawsuit was filed or judgment occurred. If you have an ongoing lawsuit, an option would be to request a stay in your case while waiting for notification from the CFPB or Wells Fargo and you can file an online complaint at the CFPB site to push things along.

http://www.consumerfinance.gov/about-us/newsroom/cfpb-takes-action-against-wells-fargo-illegal-student-loan-servicing-practices/

http://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-fines-wells-fargo-100-million-widespread-illegal-practice-secretly-opening-unauthorized-accounts/

 

  • Like 1

Share this post


Link to post
Share on other sites

@credit2011 there was also something in the news where United Credit Recovery (UCR), a JDB was creating US Bank and Wells Fargo affidavits and other supporting documents without the banks' knowledge. http://www.startribune.com/oct-30-2013-minnesota-ag-sues-florida-debt-buyer/229901441/

 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.