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California Legislature approves bill to stop arbitration measure spurred by the Wells Fargo scandal — Justice League

The California Legislature has approved a bill aimed at stopping banks from using arbitration clauses to shield themselves from lawsuits over sham accounts — a direct response to the Wells Fargo scandal. Senate Bill 33 passed the state Assembly on Tuesday and was approved by the Senate on Wednesday. It now goes to Gov. Jerry Brown’s desk. […]

via California Legislature approves to stop arbitration measure spurred by the Wells Fargo scandal — Justice League

That is great news for consumers that the California Legislature passed Senate Bill 33.  Hopefully Governor Jerry Brown will sign the bill. All consumers in California should contact the Governor’s office and ask that he sign Senate Bill 33 right away.

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Wells Fargo appeals decision regarding class action lawsuit

How long is this knucklehead going to be CEO? Wells Fargo CEO Tim Sloane is continuing the bank’s history of dumb decisions — this time fighting a class-action suit that other banks have settled.Post photo composite Wells Fargo Chief Executive Tim Sloan has reassured customers he’s doing everything he can to make up for past […]

via Wells Fargo may have just made another boneheaded decision — Justice League

This could turn out to be a huge tactical error by Wells Fargo if the appeals court rules against them and decides to order that their decision be published.

 

Wells Fargo is being sued by mortgage borrowers

More problems for Wells Fargo: Wells Fargo Bank has been hit with a proposed class action accusing it of collecting tens of millions of dollars from Texas borrowers who paid off their mortgages early without providing required disclosures about how to avoid the charges. Filed on Tuesday in Oakland, California federal court, the lawsuit said […]

via Borrowers sue Wells Fargo over paid-off mortgage interest — Justice League

‘Wells Fargo LIARS’: Fed up with service, Mobile bar owner sticks it to big bank

More people that have been victims of big bank abuses need to start doing what Jim Walker is doing. If more people started doing that it would at least get the issue of big bank abuses more publicity.

Justice League

Mobile restaurant owner Jim Walker has a simple message for Wells Fargo: LIARS.

That’s the message he displayed a little more than two weeks ago in a banner hung outside one of his businesses, the OK Bicycle Shop, located at Dauphin Street and Washington Avenue.

Since then, Walker had raised the same banner above the Alchemy Tavern and a building near the Hardee’s in downtown Mobile. He is also planning to hang a similar banner over a bridge that’s facing Interstate 10 during Labor Day weekend for maximum exposure.

He said that several bad experiences he has had with the bank, which has $1.4 trillion in assets, inspired him to create the sign.

“At some point the consumer is going to have to stand up,” Walker said. “They are corporate bullies that are endorsed by the federal legislature. They are given unlimited power and this is the way they treat…

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Judge: Wells Fargo to pay $8M for fraud tied to trust set up when Dallas woman was orphan

Wells Fargo Bank has been ordered by a Judge in Dallas County, Texas to pay a woman that was defrauded by the bank more than $8 million.

Justice League

wells-fargo-hells-cargo

Wells Fargo Bank has been ordered to pay a Dallas woman more than $8 million by a state judge who concluded the bank defrauded her in serving as a trustee for a trust established by her relatives in Midland when she was orphaned at age 7.

In court filings and during a 2012 bench trial before State Judge Emily Tobolowsky, Angela Militello alleged that she had been deceived by Wells Fargo, which was acting as the trustee in a trust set up for her as a child. (The original complaint is here.)

Wells Fargo sent a trust officer to Dallas County in 1999 to discuss Militello’s trust, she alleged. At a Dallas restaurant, he informed her she needed to “open a new account” and produced papers for her to assign to create a revocable trust.

In 2006, following her divorce, Militello asked her trust officer how she might get $200,000 to  buy a house where she…

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Wells Fargo Breached 2010 Mortgage Settlement, Must Work To Provide Homeowner Assistance

Although I know that Bank of America is often in the news for their foreclosure abuses I know from my own personal experience that Wells Fargo is a close second to claiming the dubious award of being the worst foreclosure abuser and this article is just more proof.

Consumerist

(Mike Mozart) (Mike Mozart)

Some homeowners who were wrongly denied mortgage assistance from Wells Fargo will soon receive the help they needed years ago after a federal judge ruled this week that the bank’s denial of modifications were in breach of a 2010 settlement involving adjustable-payment mortgages.

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