According to a report by Reuters, Wells Fargo has been hit with a lawsuit that claims the company encouraged thousands of nationwide retailers to charge hidden fees to customers by using financing programs devised by the bank. The lawsuit, filed by a Texas jewelry company, claims that retailers were instructed to integrate financing fees into the price of goods and advertise that purchases could be financed interest free. Reuters reports that the lawsuit alleges violations of the US Truth in Lending Act, which requires lenders to clearly disclose financing changes.
