Update: Wells Fargo Pays Over $35,000 to Settle Contempt Charges
On December 2, a federal judge in Portland ordered Wells Fargo to appear in court to show why it shouldn't be held in contempt for its collection efforts related to a payday loan scheme.
See Prior Post: Wells Fargo Prosecuted for Contempt in Payday Loan Scheme
Last month, Oregon consumer Antonio Espinosa filed a 30 page motion alleging Wells Fargo failed to follow the bankruptcy rules when it permanently seized wages from his account.
|
See Prior Post: Wells Fargo Prosecuted for Contempt in Payday Loan Scheme
Wells Fargo's Payday Loan Scheme
Bank records on file with the court indicate Wells Fargo charged Espinosa over 75% APR through its payday loan scheme in 2013.
The bankruptcy judge set Wells Fargo's first appearance date on the contempt charge for January 7, 2014. Wells Fargo has yet to file a response.
Click here to read the court order.
Espinosa claims his bank fees to Wells Fargo totaled nearly 50% of his net wages.
|
The bankruptcy judge set Wells Fargo's first appearance date on the contempt charge for January 7, 2014. Wells Fargo has yet to file a response.
Click here to read the court order.
Punitive Damages
In a separate lawsuit filed yesterday, Espinosa requested Wells Fargo pay actual and punitive damages for its alleged "willful" choices.
Espinosa alleges that Wells Fargo illegally seized his wages from his checking account after he filed for bankruptcy protection.
Espinosa's attorney has requested Wells Fargo publicly disclose the amount of profits it earned last year by seizing consumer bank funds through "set off." Read more about "set off" here. |
Wells Fargo Never Sought Court Permission
Espinosa alleges that Wells Fargo illegally seized his wages from his checking account after he filed for bankruptcy protection.
Court records indicate Wells Fargo never sought permission from the court before permanently seizing Espinosa's wages. |
[Portland Bankruptcy Court Case Number 13-32954-elp7; 13-03295-elp]
Is it okay to post part of this on my website basically post a hyperlink to this webpage? slick cash loan
ReplyDelete