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...
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
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
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