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Wells Fargo customers barred from suing over fake accounts
Lawmakers pressed Wells Fargo CEO John Stumpf on arbitration clauses that block customers from joining class actions for fake accounts opened in their names. Regulators and lawmakers argue these clauses shield the bank from broader legal relief. a California mediation system and recent $185 million settlement address some harmed consumers.
MENTIONED IN THIS ARTICLE
Wells Fargo
Sying
Brad Sherman
D.-Calif
John Stumpf
Stumpf
Sherman
Sherrod Brown
Ohio
Consumer Financial Protection Bureau
Los Angeles
Michael Feuer
California
House Representatives
Senate
Elizabeth Warren
D-Mass
Warren