The bank said it will compensate thousands of customers with unwanted accounts and cards; how do you calculate cost of a damaged credit score?
Aaron Brodie has been dogged by poor credit for five years, the result, he said, of a Wells Fargo & Co. banker giving him a credit card he didn’t ask for. Hearing about the bank’s civil settlement over alleged illegal sales practices, he called a Wells Fargo hotline, thinking help was at hand.
Wells Fargo told Mr. Brodie, 28 years old, an emergency dispatcher with the Fort Worth, Texas, police department, that there was nothing it could do since the account had been sold to debt collectors.
“I just want somebody to say, ‘Yeah, we did this. Yeah, we were wrong,’ and maybe have my credit cleaned up,” said Mr. Brodie. He said he now can’t qualify for a mortgage.