Last month, Wells Fargo was fined $185 million and forced to pay out millions of dollars to its customers after regulators claimed the bank had been padding its profits by opening millions of deposit and credit card accounts in customers’ names without their permission. But this practice may not have been confined to that one bank. Citigroup, J.P. Morgan Chase and Bank of America have each been named in thousands of complaints filed with the Consumer Financial Protection Bureau over how these banks have opened, closed or managed consumers’ accounts – the same sort of complaints customers had made against Wells Fargo.
If you believe your bank has opened a credit card or deposit account in your name, without your permission, then you may be the victim of an attempt to inflate the bank’s sales numbers at your expense. Wells Fargo was forced to pay out $2.6 million to its customers when its shady practices came to light – and if your banks have indeed done the same, then you may be entitled to receive compensation as well.
Attorneys at Finkelstein, Blankinship, Frei-Pearson & Garber, LLP have successfully brought lawsuits on behalf of consumers who have wronged by their banks’ negligent or deceptive business practices. If you think your bank has been up to the same tricks, please contact FBFG to explore your rights and discuss your legal options