The first lawsuit has been brought against Wells Fargo by customers after it was discovered that the bank collected fees for millions of unauthorized accounts. The proposed class action suit, filed in U.S. District Court in Utah on Friday, accuses the bank of fraud, negligence, invasion of privacy, and breach of contract. The three plaintiffs are seeking compensation to cover damages tied to anxiety, emotional distress, and identity theft, as well as for legal fees. The bank was busted opening millions of phony bank and credit card accounts for customers over the last five years. The fake accounts were a way for the bank to earn extra fees from unsuspecting customers, as well as artificially boosting its sales numbers. The lawsuit states that Wells Fargo managers and bankers partook in unethical techniques to improve sales figures. The bank has an average of six accounts per customer, but was aiming to have eight. Plus, the bank is being blamed for pressuring bankers into dup...
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