Wells Fargo discovered an additional 1.4 million accounts affected by its scandal After the completion of a third-party investigation of Wells Fargo banking accounts dating back to 2009, as many as 3.5 million accounts could have been opened without authorization, the company announced...
For additional information about the Wells Fargo scandal, see CRS Legal Sidebar WSLG1671, Wells Fargo's Selling Campaign鈥擡nforcement Actions, Civil Penalties, and Possible Criminal Charges, by M. Maureen Murphy.Murphy, Edward VincentHoskins, Sean M...
The scope of Wells Fargo's fake accounts scandal grew significantly on Thursday, with the bank now saying that 3.5 million accounts were potentially opened without customers' permission between 2009 and 2016. CNN Newsource Wells Fargo a
Wells Fargo (WFC) chief financial officer said efforts by states to penalize its business over an unauthorized-accounts scandal would not affect third-quarter earnings “much,” the Wall Street Journal reported, citing a recording of an internal call. John Shrewsberry was recorded as saying the ...
California's treasurer suspended some of its business with Wells Fargo following the bank's fake account scandal. The move could cost the company billions of dollars. John Blackstone reports.
Wells Fargo Officials Enter $240 Million Settlement Over Bogus Accounts More Reuters FILE PHOTO: A Wells Fargo logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren By Jonathan Stempel and Dena Aubin (Reuters...
Wells Fargo may be sounding a more friendly tone these days, but the big bank is still playing legal hard ball with victims in the fake account scandal. Wells Fargo (WFC) customers have opened a class action lawsuit against the bank over the opening of unauthorized accounts in their names....
SAN FRANCISCO, Feb. 21 (Xinhua) -- Major U.S. multinational bank Wells Fargo & Company said Friday it has reached a settlement with the federal government worth 3 billion U.S. dollars to resolve the bank's liabilities for a fake-accounts scandal. ...
NEW YORK -- In a letter shared with ABC News, six senators have slammedWells Fargo bankfor its use of forced arbitration clauses in its customer account agreements, which the senators say enabled the company to keep its accounts scandal out of the public eye and the courts for years...
This latest settlement is far from the first jumbo corporate and securities lawsuit settlement that Wells Fargo has had to pay as a result of the bank’s phony account scandal and the ensuing consequences. In 2016, after the initial revelations about the bank’s creation of bogu...