DENVER BUSINESS JOURNAL - A small group of Coloradans held fishing poles and signs in protest outside of Wells Fargo in downtown Denver saying the banking giant, Colorado’s largest, shouldn’t be let off the hook.
The 15 protesters from the Colorado Consumer Protection Coalition said consumers were hurt by Wells Fargo actions when the bank opened an estimate 3.5 million fake bank accounts in their customers’ names. An estimated 64,000 people in Colorado were victims of the false accounts, the group said.
But now, they said, comes a move by Congress to undo one of the consumer protection rules that would have allowed them to take banks, and other companies, to court in class action lawsuits.
The downtown Denver protest was staged on the day that Wells Fargo & Co. CEO Tim Sloan testified in a two-hour congressional hearing about how the bank has made changes in the wake of the scandal where it admitted that it had opened millions of fake accounts in its customers’ names.
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