Wells Fargo Stipulates to $8.5 Million Judgment in Privacy Case

Wells Fargo Bank, N.A., will pay $8.5 million to settle a civil lawsuit that alleges it waited too long to inform customers that phone calls were being recorded. The San Francisco-based company reached a settlement with the Los Angeles County District Attorney’s Office, as well as the California Attorney General and the Alameda, Riverside, San …

Source: Wells Fargo to Pay $8.5 Million to Settle Consumer Protection Lawsuit – Corporate Crime Reporter

“Wells Fargo failed to recognize that Californians place a high value on privacy,” Los Angeles County District Attorney Lacey said. “Today’s settlement takes another step toward ensuring that consumers’ rights are protected.”

California law regarding the recording of phone calls is more stringent than in many other states.

Each party to a confidential conversation must be advised at the outset if a call is being recorded, so the person may object or terminate the call if he or she does not wish to be recorded.



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s