| Los Angeles sues Wells Fargo, alleging fraud by employees | |
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LOS ANGELES (AP) -- The city of Los Angeles is suing Wells Fargo Bank, alleging that employees driven by strict sales pressure opened unauthorized accounts for customers that charged them fees and damaged their credit. The civil complaint was filed Monday under a law that allows attorneys representing large California cities to seek relief for unfair business practices for customers statewide, the Los Angeles Times reported (http://lat.ms/1R8o6D8 ). It contends Wells Fargo employees violated state and federal laws by misusing confidential information and failing to notify customers when personal information was breached. Wells Fargo has blamed the problems on a few rogue employees who have been disciplined or fired and said it would defend itself. "Wells Fargo's culture is focused on the best interests of its customers and creating a supportive, caring and ethical environment for our team members," the San Francisco-based bank said in a statement. But the city's investigation found only token efforts to prevent wrongdoing, the newspaper said. |
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Wells Fargo is a exploration company based in United states of america. Wells Fargo is listed in United States of America. Its market capitalisation is US$ 301.6 billions as of today (€ 283.3 billions). Its stock quote reached its lowest recent point on July 03, 1997 at US$ 10.01, and its highest recent level on April 19, 2024 at US$ 60.35. Wells Fargo has 4 997 319 680 shares outstanding. |