Lewis: Wells Fargo so big its suing itself

Lewis: Wells Fargo so big its suing itself

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2016-09-20  · Senators push Wells Fargo CEO on pay clawbacks after bogus accounts.. he declined to commit to setting aside mandatory arbitration agreements that prohibit clients from suing Wells Fargo.. “Why isn’t this crystal clear proof that an entity as big as Wells is not only too big to fail but it’s too big to manage and too big.

Some parents threatened to keep their daughters from attending IU and calls for his firing increased – all uncompromisingly.

In 2009, Dow Jones columnist Al Lewis uncovered a case in which Wells Fargo had sued itself in connection with a foreclosure in Florida’s Hillsborough County. When a bank brings a foreclosure case in court, it has to notify whoever owns the second lien that it is taking action. In this case, Bank of America owns the second lien.

A couple weeks back, news broke that Wells Fargo execs had been accused in a lawsuit of being well aware-since at least 2012-that the bank was improperly charging thousands of customers for.

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Wells Fargo is pushing to move past its damaging sales scandal with the release of a report that largely lays blame at the feet of executives who have already resigned or been fired or demoted. The 110-page autopsy from the company’s board of directors focuses heavily on the actions of ousted.

And then Wells Fargo hired another Tampa law firm — Kass, Shuler, Solomon, Spector, Foyle & Singer P.A. — to defend itself against its own lawsuit, according to court documents.

But named plaintiffs, who all claim Wells Fargo owes them refunds ranging from $24.49 to $634.35, allege the bank has so far failed to reimburse them, and therefore Wells Fargo and its subsidiaries Wells Fargo Dealer Services Inc. and Wells Fargo & Company have breached contracts and violated nine different states’ consumer protection laws.

Being a taxpayer-subsidized, too-big-to-fail institution, it’s possible that one of the few ways for Wells Fargo & Co. (WFC) to know what it is doing is to notify itself with a court filing. ("Wells Fargo Bank Sues Itself") As your attorney, I advise you to buy lots of Wells Fargo stock.

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