Class Action
Feb. 24, 2025
Wells Fargo faces consolidated RICO actions over cash sweep program
A class action accusing Wells Fargo of RICO violations for allegedly sweeping customer cash into lucrative bank accounts has moved from New York to Northern California, joining similar consolidated cases.
A putative class action accusing Wells Fargo Inc. of committing RICO violations by allegedly moving "idle" cash from customer accounts to high interest, bank-controlled accounts without authorization was transferred to the Northern District of California from a federal court in New York City.
"Four substantially similar putative class actions against defendants have been consolidated before the Honorable Judge Vince Chhabria in the United States District Court for ...
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