Wells Fargo faces lawsuits over mortgage and auto loans

Wall Street FOXBusiness

A Wells Fargo Bank is shown in Charlotte, North Carolina, U.S., September 26, 2016. REUTERS/Mike Blake - RTSPJOV (Reuters)

Wells Fargo & Co disclosed in a regulatory filing on Friday that it is facing litigation over previously disclosed sales problems related to its auto and mortgage businesses.

Continue Reading Below

The lawsuits include two class action cases alleging violations of federal and state consumer fraud laws, as well as claims brought by former employees who said they were fired for raising concerns over problematic sales practices. Wells Fargo disclosed the litigation in its third-quarter financial filing with the U.S. Securities and Exchange Commission.

(Reporting by Dan Freed in New York; Editing by Dan Grebler)

What do you think?

Click the button below to comment on this article.