Embattled Wells Fargo Bank Busted For Overcharging Monthly Service Fees To Account Holders
It seems as if embattled Wells Fargo Bank never learns. The embattled bank expects to refund some customers for monthly account service fees due to “confusion” over how to qualify to have the fees waived.
The bank hasn’t disclosed how many customers might be affected by the issue. They also have not disclosed how much money will be refunded. However, the company mentioned the potential refunds to rebuild customer trust. Wells Fargo has been beset by a series of embarrassing and costly scandals.
Representative Katie Porter (D-CA) publicly shared a letter to Wells Fargo CEO Charles Scharf. She asked the company to share the extent of the service fee problem. Porter says the bank may have collected hundreds of millions of dollars in service fees on its Everyday Checking accounts.