Wells Fargo Data Breach Lawsuit: Customers' Sensitive Information Compromised

Case Overview: A class action lawsuit has been filed against Wells Fargo, alleging that the company failed to protect customer data, leading to a data breach.

Consumers Affected: Individuals whose personal information was compromised in the Wells Fargo data breach.

Court: U.S. District Court for the Northern District of California

Wells Fargo is facing a class action lawsuit after a July data breach compromised thousands of its customers' sensitive personal information. The lawsuit alleges that Wells Fargo failed to properly secure customer data, allowing unauthorized actors to access highly sensitive information, including Social Security numbers, bank account details, and other personal identifiers.

The lawsuit claims that Wells Fargo “intentionally, willfully, recklessly, and/or negligently” lacked data protection practices, leading to financial and emotional harm for affected customers.

Wells Fargo Data Breach Exposes Sensitive Customer Information, Lawsuit Claims

The breach, discovered in July 2024, involved hackers gaining access to Wells Fargo’s internal network, where they accessed customers’ private data, the lawsuit claims. This includes full names, addresses, phone numbers, Social Security numbers, and financial details like bank and brokerage account numbers. The compromised data was stored unprotected on Wells Fargo’s servers, according to the lawsuit.

Wells Fargo eventually sent notices to impacted individuals months later, advising them to take steps to protect themselves. However, the notice failed to give detailed information on how the breach occurred, what specific safeguards had been implemented since, or where the stolen data might be now. 

Bacon and others whose information was compromised are concerned their data could end up on the dark web or in the hands of criminals looking to commit fraud or identity theft, according to the lawsuit.

Plaintiff Alleges Negligence, Seeks Damages for Increased Risk of Identity Theft

Tamra Bacon, a Wells Fargo customer since 2017, filed the class action lawsuit against the banking giant, saying she had to spend significant time and effort mitigating the impact of the breach. 

After learning her data was exposed, Bacon took precautions, including freezing her credit, changing passwords, and securing her computer network. She also contacted various companies about suspicious activities on her accounts.

Despite these efforts, Bacon has experienced ongoing anxiety and stress, as Wells Fargo has yet to fully inform her of the scope of the breach or take concrete steps to prevent future incidents, the lawsuit claims. She also anticipates spending more time and money addressing the potential long-term consequences of the breach. Bacon alleges Wells Fargo’s lax data security measures put them at an increased risk of identity theft and fraud, which may persist for years to come.

Lawsuit Accuses Wells Fargo of Failing to Protect Consumer Data

The lawsuit accuses Wells Fargo of failing to meet its obligations to protect sensitive personal data under the law, saying the bank had a duty to safeguard customer information, but instead left it vulnerable due to insufficient data security measures.

The lawsuit references federal laws like the Federal Trade Commission Act, which prohibits companies from engaging in unfair or deceptive practices related to consumer protection. According to the lawsuit, Wells Fargo ignored industry standards and protocols, including proper encryption and data protection practices, putting thousands of customers at risk.

Companies Face Growing Number of Lawsuits Over Data Breaches

Wells Fargo joins a growing list of companies hit with lawsuits following significant data breaches. Recently, Ally Financial and its subsidiary, Ally Bank, faced a similar class action lawsuit after a cyberattack compromised sensitive customer information. 

Other companies, including Avis Rent A Car and Hospital Sisters Health System, have also been sued for failing to protect consumer data, as more consumers take legal action against businesses for breaches of privacy and data security.

In her lawsuit against Wells Fargo, Bacon wants to represent consumers from across the U.S. in his claims of negligence, breach of confidence, unjust enrichment, and more. She is seeking damages, injunctive relief, fees, and costs.

Case Details

• Lawsuit: Bacon v. Wells Fargo Bank, N.A.
• Case Number:  3:24-Cv-06974-PHK
• Court: U.S. District Court for the Northern District of California

Plaintiffs' Attorneys

• Daniel Srourian (Srourian Law Firm, P.C.)

Have you been affected by the Wells Fargo data breach? Share your experiences and concerns in the comments below.