If you live in a certain kind of urban area, you see it all the time: those new mixed-use buildings go up, and on the ground floor of practically every single one there’s a bank branch or two. And if you thought to yourself, “Why are there so freaking many bank branches opening in an era when all the young folk living in those buildings bank by phone?” you’re not alone. But it turns out there’s an easy reason that bank branches keep proliferating: customers are using ’em.
Our brief regional nightmare is over, after a federal court ordered Wells Fargo to take down two rooftop signs erected to cash in on the impending media coverage of the new Minnesota Vikings stadium in Minneapolis. [More]
There has been no shortage of lawsuits filed against Wells Fargo in recent years, from accusations the bank pushed mortgages on borrowers who couldn’t repay them to claims the company pressed employees to engage in fraudulent conduct with regard to customer accounts. Now, a recently unsealed whistleblower lawsuit melds together those issues, claiming the bank encouraged employees to withhold information from customers that could potentially lead to foreclosure proceedings. [More]
It’s the first week of baseball season, and pro hockey and basketball teams are making their final pushes for the playoffs, so the last thing on many sports fans’ minds is football. Perhaps that’s why the judge in the “photo bombing” spat between the Minnesota Vikings and Wells Fargo is telling the two parties to stop wasting everyone’s time and just work something out. [More]
California law requires that, before any party involved in a phone call can record the conversation, all parties must be made aware they are being recorded. Violations of that law can get quite costly; just ask Wells Fargo, which has to ante up $8.5 million to close a state investigation into the bank’s repeated invasions of privacy. [More]
Show me someone who supports robocalls, and I’ll show you someone that has very few friends. Which is why it’s baffling that the Senate has yet to act on a bill introduced last fall that would close a loophole allowing the government to make debt-collection robocalls. But you know who does support robocalls? The student loan companies that are currently trying to convince Congress that these invasive annoyances are really for our benefit. [More]
Until we get to a Minority Report-like future, we’re all carrying around some unique forms of identification that even the most talented identity thieves can’t steal: our bodies. In an effort to beef up security by taking advantage of customers’ unique phyiscal attributes, Wells Fargo will offer some clients the option of signing into their mobile app accounts with eye scan verification, or face and voice recognition. [More]
In Oct. 2012, the U.S. Department of Justice sued Wells Fargo, alleging that the mega-bank had defrauded taxpayers by issuing “reckless” mortgages then misleading the Federal Housing Administration about the quality of those loans. Today, Wells revealed that has agreed to pay $1.2 billion to close the book on this issue. [More]
When you’re going through the often-tedious process of refinancing your mortgage, getting some bad information can only serve to make things worse. That’s why a West Virginia woman is suing Wells Fargo, alleging that the bank told her to stop making loan payments then put her into collections and foreclosure.
A few weeks back, the Minnesota Vikings sued Wells Fargo, accusing the bank of trying “photo bomb” the team’s new stadium. Wells has since fired back, calling the whole thing “far-fetched.” [More]
When you build a new multibillion-dollar stadium for an NFL franchise, you probably want to make sure that advertisers are paying for their name on or in the building, not just near it. And you probably want to ensure that those advertisers who do pay for their name on the building aren’t being overshadowed by the neighbors. Which is why the Minnesota Vikings are suing Wells Fargo. [More]
Six months after the Los Angeles City Attorney filed a lawsuit accusing Wells Fargo of a slew of unfair practices — like encouraging employees to open unauthorized consumer accounts and then charging those accounts phony fees to meet sales expectations — two other regulatory agencies have opened investigations into the bank’s behavior. [More]