Los Angeles Times: Wells Fargo Targeted Native Americans to Open Sham Accounts

Published May 8, 2017

LOS ANGELES – The Los Angeles Times is reporting former employees of Wells Fargo have signed sworn statements that indicate their former bank superiors instructed them to target Native Americans, illegal immigrants and college students as they sought to open sham accounts to meet the bank’s onerous sales goals.

In March 2017, Wells Fargo reached a $110 million preliminary settlement to compensate all customers who claim the scandal-ridden bank opened fake accounts and other products in their name.

From the Los Angeles Times article:

Ricky Hansen Jr., a former Wells Fargo employee in Arizona, said the bank pushed credit card accounts on local Native Americans who went to Wells Fargo branches to cash tribal checks.

“In the weeks following each check-cashing day, the Indian community members would flood the store with complaints about unwanted accounts, debit and credit cards they did not order, over-drafted accounts and account fees for accounts they never requested,” Hansen said in his declaration.

 

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This BBSNews article was syndicated from Native News Online, and written by Levi Rickert. Read the original article here.