Government,
Civil Litigation,
Banking
Apr. 27, 2020
Congressional report paints damning picture of Wells Fargo
Wells Fargo’s problems may not be over. Last month, the Democratic staff of the Committee on Financial Services for the U.S. House of Representatives issued a scathing 113-page report. And just recently, some small businesses have filed class actions accusing Wells Fargo of gerrymandering the order of processing of loans under the government-backed Paycheck Protection Program to favor larger loan applicants, which make the bank more money.
Jeremy K. Robinson
Partner
Casey, Gerry, Schenk, Francavilla, Blatt & Penfield LLP
110 Laurel St
San Diego , California 92101-1486
Phone: (619) 238-1811
Fax: (619) 544-9232
Email: jrobinson@cglaw.com
Jeremy is chair of the firm's Motion and Appellate Practice.
Wells Fargo is no stranger to scandals, both old and new. It has been accused of numerous instances of misconduct, including setting up millions of bogus accounts and imposing unnecessary collateral protection insurance on unsuspecting car loan applicants. And it has largely admitted to those practices. As a result, in addition to several class action lawsuits and government enforcement action, Wells Fargo has been subject to increased Congressional scrutiny and sever...
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