Bad news for Wells Fargo

 

In a win for consumers, Wells Fargo is being forced to pay $3.7 billion to settle allegations by the Consumer Financial Protection Bureau that it mismanaged various types of loans and accounts. The allegations range from surprise overdraft fees to illegally repossessing cars.

For years Wells Fargo has used deceptive practices to scam families, and Katie has used her voice in congressional hearings to hold them accountable and reveal some of their shadiest practices. 

Katie has spent her career standing up to the Big Banks. When the state of California secured a multibillion dollar settlement from the five biggest banks to repay families who had been cheated during the mortgage crisis, Katie was appointed to be the state’s Independent Monitor to make sure Wall Street held up its end of the deal. Her and her team met with families from across the state, and held the banks’ feet to the fire to make sure people actually got the money they were owed.

Wall Street Banks shouldn’t be allowed to scam and mislead families. Katie’s one of the few Members of Congress who doesn’t take a dime of money from their CEOs, lobbyists, or corporate PACs. 

Thanks for being a part of Team Porter,

-KPHQ

 

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