25 November 2016

Wells Fargo Bank Still Violently Anti-Consumer And Crooked

Consumer arbitration is always a scam, but this one is particularly noteworthy, because the company claims the consumers are bound by agreements signed with signatures forged by the company. 

If there is any way that you can avoid doing business with this dishonest bank, you should take advantage of it and move your accounts immediately.
Even though disgraced Wells Fargo CEO John Stumpf has left the building, his most outrageous legal theories live on: on Wednesday, the company filed a motion in a federal court in Utah seeking dismissal of a class action suit by the customers it defrauded -- the bank argues that since customers sign a binding arbitration "agreement" when they open new accounts, that the customers whose signatures were forged on fraudulent new accounts should be subject to this agreement and denied a day in court.

This is the same argument that Stumpf made during his disastrous performance in front of a blazing Elizabeth Warren -- that Wells's poor customers should be subjected to agreements they never made, because Wells stole their identities and "agreed" on their behalf.
From here.

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