Imagine Being Enrolled In Online Bill Pay Without AuthorizationBy: Anthony Barnes
Can you imagine being enrolled in an unauthorized online bill pay set up by your banking institution. Startling, but this is exactly what's happening to millions of account holders who deal with Wells Fargo. The next time you analyze your next bank statement, take a moment to confirm all of the debits that come out of your account. You may end up being surprise by what you see, unaccountable deductions. Debits that are unidentifiable or unknown, and the only way to prevent this is to stay current on monitoring your account activity.
Wells Fargo is notorious for allowing this practice to happen to its account holders, and will make profits from it, by cheating its customers with excessive fees. The company recently disclosed that they found 528, 000 potentially unauthorized online bill pay enrollments. Before you realize it, banking institutions will being spending your entire pay check before you can use it to pay your bills. In 2011 the Feds fined Wells Fargo $85 Million dollars for illegally steering its mortgage lenders into more costly loans. With a banking institution like this, who needs enemies. Now comes Wells Fargo with a scam that consist of over 3.5 million potentially fake bank and credit card accounts.
Can you believe that Wells Fargo has agreed to pay a 142 million dollar class action settlement to recover fake accounts that were opened back in 2002. Dear Readers, please take notice that this is only the beginning of the corruption with Wells Fargo, and these are merely the infractions that they were caught doing, what about what they have gotten away with. Its time that the Federal Reserve and US Senate do more to protect the United States Citizens.