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Navajo Nation Sues Wells Fargo In Federal Court
The Navajo Nation is suing Wells Fargo for allegedly engaging in predatory and unlawful banking practices that have harmed its tribal members. The suit was filed in federal court in New Mexico.
In a statement, Navajo Nation President Russell Begaye says the tribe’s lawyer has been directed to seek restitution, damages and civil penalties based on Wells Fargo's alleged violations of federal, state and tribal law.
The tribe alleges employees at Wells Fargo branches on the reservation misled customers into opening unnecessary accounts and obtained debit and credit cards without their consent.
The tribe also alleges Navajo elders were “purposefully deceived into purchasing products to help employees meet banking quotas.”
Last year, Wells Fargo was fined $185 million for creating millions of unauthorized accounts across the country.
The Associated Press contributed to this report.