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Wells Fargo Wants Claims Over Fake Accounts Decided Out of Court

  • Customers suing bank for millions plus punitive damages
  • Customers filed suit in federal court in Utah in September
Photographer: Andrew Harrer/Bloomberg

Wells Fargo & Co. is trying to keep dozens of customers suing over bogus accounts opened by its employees out of court, saying they agreed to resolve any disputes in arbitration when they began doing business with the bank.

The lender also asked for the lawsuits, filed by 80 customers in federal court in Salt Lake City to be thrown out. Wells Fargo noted in a Nov. 23 filing that a separate judge has already ruled that arbitration agreements can be enforced in a similar class-action lawsuit in Northern California.