The Consumer Financial Protection Bureau has just filed a lawsuit against Navient, one of the nation’s largest student loan providers. The suit alleges that the loan servicer “cheated borrowers through shortcuts and deception” in violation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Fair Credit Reporting Act, and the Fair Debt Collections…
Except that millions of Americans are second guessing their decision to bank with Wells Fargo, not much has changed since the Consumer Financial Protection Bureau announced the massive fake accounts scam perpetrated by Wells Fargo on its own customers. Predictably, a few proposed class action lawsuits have been filed by Wells Fargo customers, shareholders and former employees alike.
When the news broke Thursday that Wells Fargo was defrauding its customers by opening fake accounts in customers’ names to meet aggressive sales goals, it came as a blow to many.
If you were surprised by a $35 late fee by your credit card company, would you think about suing? Probably not. Yet you’d feel ripped off, and you might even call us for help.