What the hell is wrong with Well Fargo? Within the past year, the financial giant has been caught and/or sued for deceptive practices of ripping off its customers. Isn’t there some sort of Government Oversight department that’s to check on these type of practices – PB/TK
Wells Fargo accused of ripping off mom-and-pop shops – By Matt Egan / Aug 11 2017
Wells Fargo has already admitted to charging people for overdrawing bank accounts that they didn’t have and for car insurance that they didn’t need. Now, it’s being accused of ripping off vulnerable mom-and-pop businesses.
For several years, Wells Fargo’s merchant services division overcharged small businesses for processing credit card transactions, a lawsuit alleges. Business owners who tried to leave Wells Fargo were charged “massive early termination fees,” according to the lawsuit filed in US District Court.
The “overbilling scheme” targeted less sophisticated businesses by using “deceptive language” in a 63-page contract designed to confuse them, the lawsuit filed on August 4 claims. The lawyer filed court documents to seek class action status.
Continue to money.cnn.com article: http://money.cnn.com/2017/08/11/investing/wells-fargo-small-business-credit-card-fees/index.html
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