Termination by Wells Fargo Leads to Whistleblower Suit

Speaking up about alleged wrongdoing in one's workplace may cause one to experience retaliation, up to and including termination. However, this is illegal in Texas and other states. One man in a different state recently claims that Wells Fargo & Co. fired him after he learned that the bank lacked the right documentation for certain mortgage loans but was still collecting on them. The man who suffered termination has thus filed a whistleblower lawsuit against the financial institution.

According to the man's complaint, the bank defrauded the federal government. He claims that the bank illicitly collected foreclosure-prevention funds totaling hundreds of millions of dollars. These funds were for loans that the bank allegedly knew did not have the right documentation.

According to the whistleblower lawsuit, the 54-year-old man complained about Wells Fargo's practices, asserting that his employer also told him to provide false information to customers. However, he resisted this instruction. That is when the bank allegedly terminated him. The bank, however, has denied any wrongdoing.

When a Texas employer is not behaving in an ethical and honest way and/or is acting illegally, an employee has the right to report this violation without being retaliated against for doing so. If retaliation does occur, such as termination, the employee may file a whistleblower lawsuit against his or her employer, seeking damages. A claim that is presented successfully may lead to remedies such as back pay as well as related benefits, attorney fees and even job restoration, depending on the specific circumstances surrounding the case.

Source: oregonlive.com, "Whistleblower claims Wells Fargo misled borrowers, government", Jeff Manning, May 13, 2016