Wells Fargo faces new fines for illegally repossessing nearly 900 vehicles from U.S. service members

Every few weeks another story comes out about how big a fraud Wells Fargo perpetrated on American citizens and how complicit they were in creating the working environment that generated that fraud. KTLA is reporting that lo and behold, Wells Fargo just “uncovered” another 450 illegal repossessions of service members’ vehicles. 

The Department of Justice on Tuesday said Wells Fargo agreed to pay an additional $5.4 million for the illegal vehicle seizures.

Federal law requires banks to get a court order before repossessing a car from members of the military. The DOJ previously charged Wells Fargo in September 2016 with illegally seizing 413 cars owned by service members.

As part of a settlement reached last year, Wells Fargo has “identified additional violations” that affected about 450 service members between January 2008 and July 2015, according to the DOJ.

These banks are too big to manage. Break them up.