Navajo Nation sues Wells Fargo

Tribe accuses bank of predatory practices, misleading customers

WINDOW ROCK, Ariz. — The Navajo Nation is suing Wells Fargo for allegedly engaging in predatory and unlawful banking practices that targeted and harmed tribal members.

In a statement Tuesday, 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 vast reservation “routinely misled customers into opening unnecessary accounts and obtained debit and credit cards without customers’ consent.”

They also allege that Navajo elders “were purposely confused and deceived into purchasing products to help employees meet banking quotas.”

The suit was filed in a federal court in New Mexico.

The Navajo Nation covers parts of northeastern Arizona, southeastern Utah and northwestern New Mexico.

The bank announced earlier this year that it had found a total of up to 3.5 million potentially fake bank and credit card accounts nationwide, up from an earlier tally of about 2.1 million. The company said it would pay a total of $6.1 million to refund customers for unauthorized bank and credit card accounts, up from $3.3 million previously.

In addition, the company agreed to a $142 million national class action settlement to cover fake accounts that were opened as far back as 2002.

Wells Fargo blamed unrealistic sales goals placed on employees for encouraging the unauthorized bill pay and bank account openings.