A jury ordered Wells Fargo Bank to pay $1.25 million in damages for allegedly targeting low-income minority customers for loans they could not afford. One million dollars of the award was punitive damages.
I hate when people comment on verdicts when they really don’t know the evidence. Well, unless those “people” are me. I cannot imagine facts that would lead me to award punitive damages in a case like this. I’m not a huge fan of punitive damages anyway but, in this case, regardless of the facts, this woman took out a loan that she could not pay back. Maybe the facts are such that she deserves something. But not $1.25 million.