Wells Fargo Lawsuits – How to Handle Them

Wells Fargo Bank has settled claims for a large number of its customers for a massive amount. A settlement amount that could run into millions was agreed upon in a court case in May. The bank was ordered to pay the damages to its borrowers that filed for bankruptcy as a result of huge unpaid loans. It has settled claims for a large number of its customers and payments are to be made automatically by the bank.

Wells Fargo Bank had settled many lawsuits over the past few years.

Some of the cases were for amounts in excess of a billion dollars. A majority of the cases settled involved loans that had been taken out by unauthorized borrowers. Many of the people who were unauthorized borrowers were unable to make their payments after losing their jobs or having their wages reduced. In these situations, they became trapped in an illegal cycle of paying the bank and getting no help from either the bank or the government.

Cases were also filed against Wells Fargo because of its poor lending practices.

During the past few years, Wells Fargo repeatedly instructed its customers to stop making payments on home loans and to contact the lender and file for bankruptcy. This caused many more people to lose their jobs. Some of these people were even unable to continue with their payments when they found out that the bank was selling its home loans through a foreclosure process. On Wednesday, the court agreed with the claims against Wells Fargo was forced to cease all of its unnecessary selling of its mortgage-related securities.

There were also several lawsuits that were filed by whistle blowers.

Employees who worked at Wells Fargo Bank knew about the fraudulent activities of certain employees and they went ahead and told others. Employees tried to warn others and they in turn informed others. As a result of the activities of these employees, Wells Fargo was sued for its wrongful acts and Wells Fargo was ordered to pay damages to those that were affected by its actions. According to The New York Times, “About two dozen employees have so far sued, demanding compensation for what they see as wrong doing at work.”

When it comes to Wells Fargo lawsuits, you can expect to see pretty much everything when dealing with the financial institutions.

There are cases regarding customer lawsuits where the customers claim that the bank overcharged them for their accounts, there are lawsuits filed by borrowers who say that the bank repeatedly pushed borrowers into subprime loans that they later found they could not handle, and there are even lawsuits filed by employees who say that the bank used robo-signing tactics to increase their sales targets. There is also the lawsuit filed by a former employee who claims that the bank discriminated against him and other employees when it came to promotions and raises. There are claims of false advertising when it comes to advertising credit lines and of not making enough investments in home loans for the people who need them. Basically, anything goes when it comes to the Wells Fargo corporation and their lawsuits.

If you have been hit by one of these fake accounts scams, it is important that you speak with an attorney right away.

You will have to go through arbitration, which can really get quite complicated. And remember, just because you are a victim of Wells Fargo lawsuits does not mean that you have no recourse. An experienced attorney can help you fight back.

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