THE ISSUE OF WELLS FARGO BANK CREATING UNAUTHORIZED ACCOUNTS FOR MORE THAN 20-THOUSAND NEW MEXICO RESIDENTS COULD BE HEADING TO COURT. ATTORNEY GENERAL HECTOR BALDERAS HAS FILED A LAWSUIT AGAINST THE BANK, ALLEGING IT CARRIED OUT ILLEGAL BUSINESS PRACTICES BY OPENING THOSE ACCOUNTS.
hE SAYS NEW MEXICANS WERE VICTIMS OF WELLS FARGO WHO WERE MISLED, WITH THE BANK CHARGING SECRET FEES AND OPENING GHOST ACCOUNTS. THAT ACTIVITY LED TO A NATIONAL SCANDAL.
BALDERAS SAYS ANY FUNDS RECOVERED THROUGH THE LAWSUIT WILL BE USED TO INCREASE FINANCIAL LITERACY PROGRAMS FOR STUDENTS AND AT-RISK FAMILIES.
