Wells Fargo writes $204K check after man sues over frozen bank account – TBJ

by Lauren Ohnesorge

Triangle Business Journal

A man who claimed his life was disrupted when a Wells Fargo error caused him to lose access to his bank account is getting some relief.

Ethan Parker, who sued  Wells Fargo (NYSE: WFC)last month in federal court in North Carolina after being unable to get his house out of foreclosure due to a frozen bank account, will soon see a check. Jim White, Parker’s attorney, said Friday that Wells Fargo agreed to return his client’s money.

White said his client expects his funds returned in three weeks – enough time for him to save a family home in danger of foreclosure – but that the case isn’t over. The next stop is arbitration, as White said his client is still owed attorneys fees and damages.

“You can’t just disrupt someone’s financial life for a year and not face consequences for it,” White said.

Wells Fargo, in its responses in court, denied wrongdoing, but said it was “in the process” of issuing Parker a check for $204,450.55.

A Wells Fargo spokesperson told Triangle Business Journal last month that the San Francisco-based bank “strongly disagree[d] with the allegations made in the suit filed by Mr. Parker and will defend our position as we believe Wells Fargo took the appropriate actions.”

On Friday, a bank spokesperson said that “Wells Fargo recently received verification that the funds should be remitted to Mr. Parker.”

 

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Jim White
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Jim White helps people and companies facing serious financial injury by bringing and defending lawsuits and representing debtors in bankruptcy. He has successfully taken on banks, large financial institutions and other corporations in “David v. Goliath” cases. You can reach him at 919-246-4676.