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Wells Fargo Settlement : Fake bank accounts led to a class action lawsuit

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Wells Fargo class action lawsuit and settlement.

The Wells Fargo scandal unfolded several months ago, with bank employees creating millions of fake bank accounts for customers.

The Bank’s CEO encouraged employees to implement his mantra of “eight is great,” meaning that eight different services in the possession of every Wells Fargo customer would be the ideal number.

For several years, Wells Fargo employees created more than 2 million fake accounts, reaping millions in fees. Once the scandal was uncovered, all hell broke loose.

And now, the class action lawsuit is inviting everyone who has been damaged by the scheme to join the class.

The web site, WFSettlement.com, is operated by Rust Consulting, familiar to domain investors from the settlement of the SnapNames scandal.

A $142 Million Settlement with Wells Fargo includes customers who had certain Wells Fargo Credit Cards, lines of credit, checking or savings accounts opened or applied for in their name without their permission, or had authorized identity theft protection services from Wells Fargo, from May 1, 2002 to April 20, 2017.

Cash benefits may include:

  • A payment to compensate you for fees you may have paid in connection with unauthorized accounts.
  • Cash to compensate you for damages caused by harm to your credit.
  • Plus, any money remaining in the fund, after paying the benefits above and all costs and expenses, will be paid out as additional compensation on a per-account basis.

For more information, visit WFSettlement.com.


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