PROTECTING CONSUMERS - WELLS FARGO
In May, 2015, following an extensive investigation precipitated by this report in the Los Angeles Times, the Office of City Attorney Mike Feuer sued Wells Fargo over allegations of opening unauthorized accounts. After filing the lawsuit, we received more than 1,000 phone calls and emails from customers and current and former Wells Fargo employees across the country about the issues raised in the litigation.
On September 8, 2016, City Attorney Mike Feuer announced that this lawsuit has been settled, and as a result, Wells Fargo will provide restitution to affected customers and pay $50 million in civil penalties, the largest such payment in the history of the City Attorney’s office. Read the settlement here.
Wells Fargo customers should receive information about this starting in October. In the meantime, if you're a customer and believe that an account or credit card has been opened in your name withour your authorization, please call the number on your bank statement or visit your local branch. If you are still unable to get help, or if you're a customer of another bank and believe that accounts have been opened in your name, please call our special hotline and leave a message. This number is 213-978-3393.
HUFFINGTON POST: CONGRESS SHOULD ACT IN WAKE OF WELLS FARGO SCANDAL, by Los Angeles City Attorney Mike Feuer
9/8/2016 - Los Angeles City Attorney Mike Feuer Achieves Historic Result in Consumer Action Against Wells Fargo; Bank to Make Restitution to Customers, Pay $50-million in Penalties; Unprecedented Coordination with Federal Regulators to Benefit Consumers Nationwide
9/8/2016 - Read the Wells Fargo settlement
5/5/2015 - City Attorney Feuer Files Lawsuit Against Wells Fargo for Allegedly Opening Unauthorized Customer Accounts - Complaint Also Alleges Wells Failed to Notify Customers of Unathorized Use of Personal Information