Examples of behavior which has already resulted in fines:
Opening fake deposit and credit card accounts, in customer names but without customer consent, to meet employee cross-selling goals.
Retaliation against a whistleblower for reporting suspected bank, mail and wire fraud.
Charging consumers for unnecessary auto insurance, mortgage fees
Failure to issue GAP insurance refunds for consumers who paid off their car loan early
Failure to comply with Servicemembers Civil Relief Act (SCRA)
Misleading California investors, charities, and small businesses about the risk-level of auction-rate securities
More recent alleged scandals:
Sacramento Bee: "The city of Sacramento has filed a federal lawsuit against Wells Fargo alleging the banking giant steers African American and Latino borrowers into high-risk and high-cost mortgages."
KTLA in Los Angeles: "Hundreds of people had their homes foreclosed on because software used by Wells Fargo incorrectly denied them mortgage modifications."
NBC news: "Lawyers say they've found cases in 11 states in which Wells Fargo has wrongly claimed borrowers asked to pause mortgage payments during the COVID-19 pandemic" causing erroneous forbearance filings.
The Donald J. Trump Foundation, a "charitable" organization, was dissolved by court order in 2019 due to misuse of funds for personal, business and political purposes taking credit for some donations to the Foundation that were made by others failure by the Trump family (directors) to provide oversight or adopt legally required policies and procedures.
AG SUMMARY OF NEW YORK SUPREME COURT ORDER
The $1.8 million remaining assets of that foundation, as well as a $2 million penalty, were subsequently distributed among eight legitimate New York charities. Donald J. Trump agreed to 19 "admissions" acknowledging his personal misuse of funds. Meanwhile Donald Trump Jr., Ivanka Trump, and Eric Trump completed compulsory training on the duties of officers and directors of charities.
The Fair and Accurate Credit Transactions Act of 2003 also permits you to request at least one free credit report per year from each of the four major credit reporting agencies. Only one website, annualcreditreport.com, is officially sanctioned for getting reports from the largest three agencies: Equifax and Experian and TransUnion. It will be necessary to provide your Social Security number and answer some questions to prove your identity.
The free reports do not include your credit score. If you click on a button trying to get your score, that is not part of the free service. The button you want looks like the red one above. If you encounter any screen asking you to enter credit card information, you have detoured away from the free service.
GET FREE EQUIFAX, EXPERIAN AND/OR TRANSUNION REPORTS
The fourth agency is less well-known.
GET FREE REPORT BY POSTAL MAIL FROM INNOVIS
Adverse credit history may impede your ability to rent an apartment, obtain loans at favorable interest rates, or apply for a job -- especially a job handling finances or sensitive data. File a dispute to get your data corrected if you find errors in a credit report. Monitoring your credit reports can also help you detect an occurrence of identity theft.
Reduce junk mail and your risk of identity theft by opting out of prescreened offers of credit and insurance. The Fair and Accurate Credit Transactions Act of 2003, an amendment to the Fair Credit Reporting Act (FCRA), provides consumers the right to opt out.
Official website: OPTOUTPRESCREEN.COM