Thursday, December 21, 2017

Navajo Nation sues Wells Fargo in fake-account scandal - NBC News

The Navajo Nation has accused Wells Fargo & Co. of coercing vulnerable members of the tribe into opening accounts they didn't need as part of an aggressive sales campaign for which it has already agreed to pay tens of millions of dollars in penalties and settlements.

 In a 55-page lawsuit filed Tuesday in U.S. District Court in Albuquerque, New Mexico, the tribe — whose lands in Arizona, Utah and New Mexico are home to five Wells Fargo branches — accused the bank of targeting minors, the elderly and members who speak limited English for high-pressure pitches to sign up for unneeded accounts.
https://www.nbcnews.com/business/business-news/navajo-nation-sues-wells-fargo-fake-account-scandal-n829571

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