How to File Wells Fargo Lawsuits
Wells Fargo & Company is a multinational financial services company that was founded in 1852 in New York, with $1.92 trillion in assets. Wells Fargo is one of the “Big Four” banks of the United States.
In this article, we will discuss some of the most notorious Wells Fargo lawsuits and how you can face financial giants such as Wells Fargo in small claims court.
What was Wells Fargo Accused of?
Wells Fargo is one of the most sued financial firms in the country. It has been a defendant in more than 180 violations and suffered damages of $21,358,750,745 to date. The table below outlines major lawsuits that Wells Fargo has been involved in:
|Type of Violation||Agency||Damages|
|Americans with Disabilities Act violations||Justice Department Civil Rights Division (DOJ RIGHTS)||$16,055,000|
|Anti-money-laundering deficiencies||Treasury Department Financial Crimes Enforcement Network (FINCEN)||$110,000,000|
|Southern District of Florida U.S. Attorney’s office (USAO)||$50,000,000|
|Securities and Exchange Commission (SEC)||$3,500,000|
|Banking violations||Office of the Comptroller of the Currency (OCC)||$51,205 – $1,991,141,181|
|Federal Reserve (FED)||$85,000,000 – $87,000,000|
|Consumer Financial Protection Bureau (CFPB)||$100,000,000|
|Federal Deposit Insurance Corporation (FDIC)||$125,000|
|Bankruptcy professional violations||Justice Department U.S. Trustee Program (DOJ UTP)||$81,600,000|
|Benefit plan administrator violations||Employee Benefits Security Administration (EBSA)||$30,000,000|
|Private lawsuit in federal court||$1,005,000 – $79,000,000|
|Consumer protection violations||CFPB||$4,010,000 – $34,800,000|
|Various state’s Attorney General’s office (AG)||$33,500 – $23,700,000|
|Los Angeles City Attorney’s office (CA)||$50,000,000|
|Santa Clara County District Attorney’s office (DA)||$25,000|
|California Department of Financial Protection and Innovation (DFPI)||$8,000|
|New York Department of Financial Services (DFS)||$4,000,000|
|Data submission deficiencies||Commodity Futures Trading Commission (CFTC)||$45,000 – $400,000|
|Discriminatory practices (non-employment)||Housing and Urban Development Department (HUD)||$5,000,000|
|Private lawsuit in federal courts||$7,500,000 – $10,000,000|
|Private lawsuit in state courts||$3,520,000|
|Economic sanction violations||Office of Foreign Assets Control (OFAC)||$5,500 – $122,358|
|Employment discrimination||Equal Employment Opportunity Commission (EEOC)||$110,000 – $295,000|
|Office of Federal Contract Compliance Programs (OFCCP)||$14,000 – $7,800,000|
|Private lawsuit in federal courts||$12,000,000 – $35,500,000|
|False Claims Act and related violations||Justice Department Civil Division (DOJ CIVIL)||$1,200,000,000|
|District of Arizona USAO||$4,046,786|
|Family and Medical Leave Act violations||Labor Department Wage and Hour Division (WHD)||$5,152 – $11,874|
|Insurance violations||California Department of Insurance (INS)||$5,345,816|
|Investor protection violations||SEC||$125,000 – $500,000,000|
|Various state’s AG||$309,000 – $115,000,000|
|Alaska Division of Banking and Securities (DBS)||$129,131|
|Various state’s SEC||$5,000 – $765,993|
|Nebraska Department of Banking & Finance (DBF)||$20,000|
|New Hampshire Bureau of Securities Regulation (BSR)||$35,000|
|Various state’s Division of Financial Regulation (FIN)||$8,500 – $50,000,000|
|Labor relations violations||National Labor Relations Board (NLRB)||$9,116|
|Mortgage abuses||Justice Department (DOJ)||$5,342,200,000|
|Various state’s AG||$675,000 – $1,005,233,716|
|Price-fixing or anti-competitive practices||Justice Department Antitrust Division (ANTITRUST)||$148,000,000|
|Various state’s AG||$58,750,000|
|Privacy violations||California AG||$8,500,000|
|Private lawsuit in federal courts||$30,446,022|
|Servicemembers Civil Relief Act violations||DOJ RIGHTS||$4,100,000 – $5,400,000|
|Toxic securities abuses||SEC||$6,500,000 – $11,000,000|
|Fannie Mae (FHFA)||$591,000,000 – $869,000,000|
|National Credit Union Administration (NCUA)||$53,000,000|
|Wage and hour violations||WHD||$31,770 – $5,798,744|
|Private lawsuit in state courts||$3,000,000 – $27,500,000|
|Private lawsuit in federal courts||$100,000 – $39,000,000|
|Workplace safety or health violations||Occupational Safety and Health Administration (OSHA)||$5,000 – $12,000|
Suing Wells Fargo for Fake Account Scandal
In 2016, Wells Fargo was mired in an unauthorized customer account scandal. It was a consequence of the bank’s staff having to meet ambitious quotas that involved cross-selling among customers’ multiple accounts. Wells Fargo was ordered by the court to pay $3 billion for the fraud. Some of the specifics of the lawsuit include the following:
- Wells Fargo employees had pressure meeting sales quotas.
- They resorted to opening savings and checking accounts using actual customers’ names without their knowledge or permission.
- The fake account scheme lasted for more than a decade.
- Wells Fargo took numerous measures to hide fraudulent accounts from customers via illegal means such as forging customer signatures and banning employees from contacting customers.
Wells Fargo Wage-and-Hour Lawsuit
One of the many notorious Wells Fargo lawsuits that made the news were the wage-and-hour violation class-action lawsuits that were filed in California. The $95.7 million lawsuit was a combination of two class actions brought by lead plaintiffs Jacqueline Ibarra and James Kang. The latter was filed on behalf of 5,377 loan officers and other mortgage staffers who worked at the bank from 2013 to 2019 while the former was related to the bank’s violation of the state’s rest-break rules. Some of the specifics of the class-action lawsuit filed by James Kang include:
- Kang alleged that Wells Fargo clawed back on advance payment of commissions at $12 per hour.
- The suit also claimed Wells Fargo did not compensate mortgage professionals for non-sales work.
- The bank also clawed back vacation pay from commissions.
- The bank also failed to pay overtime wages as required by law.
Suing Wells Fargo for Improper Mortgage Changes
In 2019, borrowers sued Wells Fargo in a class-action lawsuit that alleged the bank of inappropriately modifying the mortgages of those who had declared bankruptcy. According to the bank, it was caused by an error in its mortgage underwriting software that led to hundreds of improperly denied mortgage modifications. The $13-million lawsuit alleged Wells Fargo of:
- Incorrectly filing mortgage payment change notices
- Violations of bankruptcy rules and laws
- Unfair and deceptive trade practices
How to Sue Wells Fargo With DoNotPay
Suing Wells Fargo and similar financial giants is very much possible in small claims court since the multinational company cannot send its top gun lawyers to deal with you and you do not have to worry about hefty lawyer fees.
However, there is still the dilemma of overcoming bureaucracies and filing highly technical forms and demand letters. That is where DoNotPay can help! To sue with the AI lawyer, all you have to do is:
- Log in to DoNotPay and select the Sue Now product
- Enter the dollar amount you are owed
- Select whether you want a demand letter or court filing forms
- Describe the reason for the lawsuit and submit any applicable evidence
That’s it! DoNotPay will then generate a demand letter or court filing forms for you. We’ll also mail the legal documents to Wells Fargo on your behalf!
What Other Companies Can DoNotPay Help You Sue?
Use the Sue Now product to sue in small claims court and join thousands of users who have done the same. Have another company in mind? DoNotPay can also help you sue: