The Huffington Post reports that Elizabeth Magner, a federal judge in Louisiana, hit Wells Fargo with $3.1 million in punitive damages for gouging a New Orleans man for $24,000 in illegal fees on his mortgage, and then putting the full weight of its legal resources on him to discourage a lawsuit (emphasis mine) In the most recent opinion, Magner...
A jury decided not to impose punitive damages against Wells Fargo on Thursday, a day after those jurors awarded $29.9 million to four nonprofits after finding the bank had breached its fiduciary duty and engaged in fraud. Read Post
The Associated Press reports that a federal judge has slammed too-big-to-fail bank Wells Fargo for "gouging and profiteering" via overdrafts. It's going to cost Wells $200 million. In a decision handed down late Tuesday, U.S. Distri... Read Post
Wells Fargo is guilty of gouging and profiteering and needs to return $203 million in overdraft fees to customers, a San Francisco judge ruled yesterday. The bank's practice of processing transactions from the largest to the smalles... Read Post