Fry Law Corporation

Your success story begins here.

Wells Fargo to pay $8.5 million in privacy case, none goes to victims

I know the title sounds bad but keep in mind, the Office of the Attorney General uses this money to fund other attacks on big companies behalf of consumers. It will be put to good use.

-Christopher J. Fry

A Wells Fargo & Co (WFC.N) unit will pay $8.5 million to California and five of the state's counties to settle charges that it violated customers' privacy by recording their calls without first notifying them, state prosecutors said on Tuesday.

Wells Fargo Bank broke California's privacy laws, which require disclosure at the start of a phone call, state Attorney General Kamala Harris said in a statement about her office's civil case against the company.

The bank neither admitted nor denied liability, she said.

Harris' office pursued the case with district attorneys for Los Angeles County, San Diego County, Alameda County, Riverside County and Ventura County. The six offices will share $7.6 million of the settlement.

The statement did not mention the violation period. A spokesperson for Harris could not be immediately reached for comment.

Wells Fargo has put procedures in place to ensure that disclosures occur at the beginning of the call, company spokesman Tom Goyda said in a statement.

The settlement requires Wells to establish procedures to ensure compliance, and appoint a supervisor to oversee those measures.

Wells has also agreed to contribute a total of $500,000 to the Privacy Rights Clearinghouse in San Diego and the Consumer Protection Trust Fund.

(Reporting by Suzanne Barlyn; Additional reporting by Dan Freed; Editing by Marguerita Choy and Richard Chang)

Original: http://www.reuters.com/article/us-wells-fargo-privacy-california-idUSKCN0WV289

 

This website is for informational purposes only. Please do not construe anything contained herein as legal advice. Each case is different depending on the facts. Most of the content on this site is based on a general application of the law that may not be applicable to your case. For the best advice, give us a call and speak with an attorney.

 

Fry Law Corporation - Main  

980 9th Street, 16th Floor

Sacramento, California 95814

Phone: (916) 291-0700

Fax: (916) 848-0256

info@frylawcorp.com