Wells Fargo’s latest legal issue involves credit card fees

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Wells Fargo’s latest legal issue involves credit card fees

Wells Fargo’s latest legal issue involves credit card fees

NY POST-

Another day, another class-action lawsuit against Wells Fargo.

The latest legal salvo claims the bank headed by Chief Executive Tim Sloan has been ripping off small businesses for years by burying fees and misleading merchants about how much they have to pay for credit card processing services.

Wells Fargo’s merchant services unit, a joint venture with First Data Corp., snookers small businesses with a confusing 63-page contract that contains “misleading statements about its fees and promises that it does not intend to keep,” the suit filed by a Pennsylvania restaurant and a North Carolina tour guide company in Brooklyn federal court late Friday, alleges.

[NY POST]

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