A Consumer Class Action Has Been Filed Against Wells Fargo & Company (WFC) and its subsidiary Wells Fargo Bank, N.A.

NEW YORK, Oct. 19, 2016 -- Gainey McKenna & Egleston announces that a consumer class action lawsuit has been filed against Wells Fargo & Company (NYSE:WFC) and its subsidiary Wells Fargo Bank, N.A. (collectively, “Wells Fargo”) in the United States District Court for the District of New Jersey, on behalf of all persons in the United States who had a banking account fraudulently opened by Wells Fargo without their express permission and/or who had fees and penalties imposed upon them because of the fraudulent account activities.

The Complaint alleges that Wells Fargo engaged in a company-wide fraudulent scheme to open deposit accounts, credit card accounts, and other banking product and services in customers’ names without the customers’ knowledge, consent or approval.  The Complaint further alleges that Wells Fargo pressured its own employees to secretly open accounts in customers’ names without permission and then failed to refund to customers the fees and penalties unlawfully charged or otherwise remedy the injuries Wells Fargo and its employees caused.  The Complaint also alleges that as a direct consequence of its conduct, Wells Fargo agreed to pay approximately $190 million in fines to the Consumer Financial Protection Bureau (“CFPB”), the Office of the Comptroller of the Currency, and the City and County of Los Angeles.  The Complaint alleges that, unfortunately, only $5 million of this $190 million in fines is supposed to be allocated to the injured customers.

If you wish to join the litigation, or to discuss your rights or interests regarding this consumer class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].

This notice may be considered Attorney Advertising in some jurisdictions.  Also please note that prior positive results achieved by the law firm involved in this action does not guarantee a similar outcome with respect to this action.