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More Banks Have Opened Unauthorized Accounts, Possible Lawsuit
A number of banks are currently under investigation to see whether their employees opened unauthorized accounts. This was an issue that was brought to light by Wells Fargo, but they’re not the only bank to have used the practice to boost account. If you were affected by such unauthorized accounts, you may be able to join an investigation into this practice.
In a review conducted by the Office of the Comptroller of the Currency (OCC) that looked into around 40 banks, up to 10,000 unauthorized accounts were found to have been opened without the permission of customers. Unauthorized accounts found through this investigation included new mortgages, auto loans, checking and savings accounts, and credit cards.
The OCC declined to name the banks where these accounts were found. But an unauthorized bank accounts lawsuit investigation is now looking into banking sales practices at the following banks:
- Bank of America
- BOK Financial
- Capital One
- Royal Bank of Canada
- TD Bank
Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.