Payments News

Wells Fargo joint venture sued over merchant credit card fees

Aug 07, 2017
NEW YORK (Reuters) - A Wells Fargo Bank joint venture that provides credit card processing services to merchants across the country has been hit with a lawsuit accusing it of using misleading sales tactics and overbilling for its services.

The proposed class action, filed on Friday in Brooklyn federal court, said Wells Fargo Merchant Services promised merchants that it would give them transparent pricing but charged them unauthorized fees and disguised the fees with deceptive language in monthly statements.

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https://www.reuters.com/article/us-wellsfargo-merchants-idUSKBN1AN1ZY