Wells Fargo Broke Deal To Sell Checking Accounts, Suit Says

Law360, New York (May 4, 2012, 5:44 PM EDT) -- Wells Fargo Bank NA breached a deal to sell overdrafted bank accounts to collection agency United Credit Recovery LLC by shopping for other offers after an agreement was signed, according to a lawsuit removed to Florida federal court Thursday.

The suit, filed in Florida state court in April, claims Wells Fargo offered the accounts — known as receivables — for sale to other vendors in breach of UCR's contractual right of first refusal. The suit seeks injunctive relief that would prevent the bank from selling the...
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