The creation of the fake accounts stemmed from the pressure placed on employees to meet daily quotas, Yeseina Guitron told Vanity Fair. Since the scandal Wells Fargo has fired more than 5,300 employees and the bank's CEO, Tim Sloan has issued an apology "to everyone who wa...
NEW YORK (AP) — 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. 00:01 00:00 CNN Newsource Wells Fargo also acknowledged that roughl...
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.
A former Wells Fargo Bank executive accused of overseeing a ruse that created millions of bogus customer accounts has agreed to plead guilty to criminal charges likely to send her prison for her role in the scandal.
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. ...
John Maxfield
Wells Fargo fines add up to $1.7 billion, along with $2 billion in consumer redress for "illegal conduct" across several business lines. The CFPB has ordered the bank to pay up.
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...
reason to cheer, aside from the bank's cost-cutting efforts, which I'll get to later on. In fact, unlike most other banks, many of Wells Fargo's numbers have actually gotten worse over the past year thanks to the fallout from itsfake-accounts scandaland other lingering consumer trust ...