Taking a comprehensive view of the 2016 Wells Fargo "fake accounts" scandal, the authors detail the bank's legal, ethical, management, and social responsibility transgressions. Civil and criminal charges are explored鈥攕ome of which have been settled. Ethical and immoral aspects are examined in ...
Wells Fargo exec in accounts scandal deserves jail time, say prosecutors: ‘Corporate wrongdoers must be sent a clear message’ BYJoel Rosenblatt and Bloomberg September 2, 2023 at 11:49 PM GMT+8Wells Fargo paid $3 billion in penalties in 2020 over its widespread practice of opening checking...
WASHINGTON, Feb. 21 (Xinhua) -- Wells Fargo, one of the leading U.S. banks, has agreed to pay 3 billion U.S. dollars to settle criminal and civil investigations with the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) over its fake accounts scandal,...
Wells Fargo's troubles with its fake-account scandal have earned the bank a credit downgrade from ratings agency DBRS. The move is in reaction to the growing costs the third-largest U.S. bank by assets faces regarding the scandal. Wells Fargo's shares are down more than 3 percent in 2017...
WASHINGTON, July 17 (Xinhua) -- Wells Fargo is preparing to shed a number of its businesses as the U.S. bank tries to restore investor confidence in the wake of the fake account scandal, Financial Times reported on Sunday. "We get a little bit smaller, a little bit less complex and ...
Wells Fargo CFO John Shrewsberry said the bank has held top officials accountable. Sen. Elizabeth Warren has demanded that board members in office during the bank's cross-selling scandal be removed. watch now VIDEO08:04 Wells Fargo CFO: There’s a lot to like about this past quarter As the...
Wells Fargo scandal explained Wells Fargo's fake accounts have been around a long time. Almost a dozen Wells Fargo (WFC) workers told CNNMoney that the shocking tactic -- where employees opened unauthorized accounts to meet unrealistic sales goals -- has been around much longer than the bank ...
Taking a comprehensive view of the 2016 Wells Fargo "fake accounts" scandal, the authors detail the bank's legal, ethical, management, and social responsibility transgressions. Civil and criminal charges are explored—some of which have been settled. Ethical and immoral aspects are examined in lig...
Wells Fargo has been the subject of a series of lending scandals, including: The mistreatment of its auto loans and mortgage consumers. In April 2018, theConsumer Financial Protection Bureau(CFPB) and theOffice of the Comptroller of the Currencyfined Wells Fargo $1 billion after the scandal came...
The CEO of Wells Fargo will reportedly step down as CEO and chairman of the board of the major U.S. bank, a move that comes in the wake of a major scandal over the creation of fake accounts on behalf of thousands of customers.