(NaturalNews) A Wells Fargo Bank depositor has charged in a lawsuit that the institution forces its branch managers to meet quotas for new accounts and that they do so by forging customers' signatures on applications.
According to Courthouse News Service, the depositor, David E. Douglas, has filed suit against the bank and three managers and assistant managers in the Los Angeles Superior Court. Named in the suit were Michelle Romanoff, assistant manager of the bank's branch at La Cienega and Wilshire; Arthur Davis, branch manager at Century City; and Alex M. Fuentes, branch manager and assistant vice president of the Wilshire-Crescent branch.
In the suit, Douglas described himself as a "long-time valued customer" of the bank. He also said he recently learned that Wells Fargo "has had and continues to have a policy of requiring its employees and branch managers to meet a quota of opening new accounts monthly in order to achieve sales goals and in order to maintain their employment at Wells Fargo."
Signing up customers without their knowledge or consent
Given that corporate requirement, the bank "should have known that its employees and bank managers routinely use the account information, date of birth, and Social Security and taxpayer identification numbers of defendant Wells Fargo's existing bank customers to use the existing bank customers' money to open additional accounts in the existing customers' names without their knowledge or consent and by forging the signature of their existing customers without their knowledge or consent to open said additional accounts, including purported business accounts for businesses that do not exist," Douglas says in his suit.
Read more about Wells Fargo Employees Forge Your Name, Take Your Money
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