Wells Fargo Closed Their Accounts, but the Fees Continued to Mount

Re:Wells Fargo Closed Their Accounts, but the Fees Continued... by howard941 on Saturday August 17, 2019 @02:55PM (#20725625)

You forgot to mention that the wrongful behavior would cease. That's the point of a class action: It provides an effective state attorney without tapping the public treasury.

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Re:Wells Fargo Closed Their Accounts, but the Fees Continued... by brewdad on Saturday August 17, 2019 @04:04PM (#20725999)

Not if they made more money ripping people off than it cost them in the courts. Even if they didn't make a full $50 million in this scam, time value of money means they get to capture earnings on the scammed money for a decade before they have to finally pay a penalty.

THEN they get to offset $50 million of current income to reduce their tax bill. I'm surprised more banks don't do this.

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Re:Wells Fargo Closed Their Accounts, but the Fees Continued... by YokoZar on Saturday August 17, 2019 @06:18PM (#20726786)

> Not if they made more money ripping people off than it cost them in the courts.

This is why class actions can assess punitive damages.

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Re:Wells Fargo Closed Their Accounts, but the Fees Continued... by zaroth on Saturday August 17, 2019 @04:36PM (#20726180)

Reputation.

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Re:Wells Fargo Closed Their Accounts, but the Fees Continued... by kaesar14 on Saturday August 17, 2019 @09:58PM (#20727749)

They don’t give a shit about their reputation.

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