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Wells Fargo Caught in Illegal Actions AGAIN, this time Against Members of the Navajo Nation

 “Wells Fargo’s predatory actions defrauded and harmed the Nation. We held Wells Fargo accountable for their actions and we will continue to hold other companies accountable if their business practices do not respect our people—this puts other companies on notice that harmful business practices against the Navajo people will not be tolerated,” Navajo Nation president Jonathan Nez said in a statement Thursday.

The complaint detailed a long pattern of misconduct by Wells Fargo

Wells Fargo fraudulently opened Navajo Nation accounts (see the same in the 2015 scandal – were Wells Fargo paid $185 million).  Wells Fargo charged people for services they did not request and creating fake accounts. In 2018, Wells Fargo reached a $575 million settlement with U.S. states and the District of Columbia.

taxesWhen will this stop?

Wells Fargo ripped off veterans.

Wells Fargo ripped off students.

Wells Fargo and illegal mortgage kickbacks.

Wells Fargo grilled by Senate for financial scandals

Wells Fargo to pay $385 million for illegal acts.

It seems the only group missing from this list are orphans, but we probably have not found that yet.  After all who speaks out for orphans?

MUSINGS FROM DIANE:

I have to ask – how many of you believe the bank’s excuses? Personally, I think Wells Fargo believes no regulator can reach them and that it can bully anyone – consumer or politician. It has gotten away with this type of behavior for so many decades that it was certain no one could touch them.
Enough is enough. I moved all our accounts, both personal and business, out of Wells Fargo and encouraged all my family and friends to do the same.  Do you really want to bank somewhere that sees their customer’s pocket books as money for the taking?  I call it grand theft, which is a felony.

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Diane L. Drain

Diane L. Drain, bankruptcy attorney, retired law professor, mentor and community spokesperson.

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