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Tag Archives: Wells Fargo

Wells Fargo faces lawsuits, angry lawmakers over car lending

NEW YORK (AP) — At least three lawsuits have now been filed against Wells Fargo from customers who say they were hurt by the bank’s latest scandal, involving how it operated its auto lending business. In Washington, D.C., some politicians ...

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Lawsuit: Wells Fargo targeted immigrants

On “Hit the Streets Thursday,” Wells Fargo bankers and tellers, specifically those of Latino descent, scouted the streets and Social Security offices for potential clients. Their goal: Find undocumented immigrants, take them to a local branch and persuade them to ...

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Wells Fargo discloses SEC investigation into sales practices

The highest court in Massachusetts ruled against U.S. Bancorp and Wells Fargo & Co. Friday in a pivotal mortgage foreclosure case that could impact nation’s largest banks. AP Images.

  The San Francisco-based bank has been under fire since it was discovered that in order to meet extremely lofty sales goals, employees opened as many as 2 million bank and credit card accounts without customer authorization. Wells Fargo has ...

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Wells Fargo cutting sales goal in wake of hefty fine

The highest court in Massachusetts ruled against U.S. Bancorp and Wells Fargo & Co. Friday in a pivotal mortgage foreclosure case that could impact nation’s largest banks. AP Images.

NEW YORK — Wells Fargo is cutting its aggressive product sales goals for retail bankers, the bank announced Tuesday after state and federal regulators fined it $185 million last week for allegedly opening millions of unauthorized accounts to meet those ...

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State sues Wells Fargo in mortgage crisis settlement

AP Images

ALBANY — The state attorney general said he’s suing Wells Fargo to force compliance with terms of last year’s national mortgage case settlement. Attorney General Eric Schneiderman also said Tuesday that he’s dropping a similar action against Bank of America, ...

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Wells Fargo to lay off 1,800 employees

NEW YORK — Wells Fargo plans to lay off an additional 1,800 employees from its mortgage department, after cutting about 2,300 jobs from the same unit in August. Spokesman Alfredo Padillo said Thursday that the San Francisco-based bank is cutting ...

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US sues Wells Fargo over FHA-insured loan defaults

NEW YORK — The federal government has sued Wells Fargo Bank in New York, blaming the nation’s largest originator of home mortgages for thousands of loan defaults over the last decade. A civil mortgage fraud lawsuit filed in U.S. District ...

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Wells Fargo to pay $175M in lending settlement

WASHINGTON. D.C. — Wells Fargo Bank will pay at least $175 million to settle accusations that it discriminated against African-American and Hispanic borrowers in violation of fair-lending laws, the Justice Department announced Thursday. Wells Fargo, the nation’s largest residential home ...

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