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. CNN Newsource Wells Fargo also acknowledged that roughly half a million...
John Maxfield
Even if the bank shall survive this wave of scandal is so difficult now to convince any client to join this Wells Fargo which shall cause them a lot of money. Also all the old customers may start withdrawing and looking for other banks which they feel are more secure when they are ...
LOS ANGELES -- 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. The agreement filed Wednesday in a Los Angeles federal co...
Wells Fargo is still operating under an asset cap that prevents it from growing until regulators deem it has fixed problems from a fake accounts scandal. The bank has nine open consent orders from regulators mandating additional oversight of its practices. Rivals JPMorgan Chase and Bank ...
While scandal in the banking sector is no surprise, particularly since the global financial crisis of 2008, many were surprised to find Wells Fargo at the center of one. After all, the bank is considered one of the more conservative of the major banks, and with its headquarters in...
Wells Fargo Fraud Scandal In September of 2016, it was revealed that there was alleged misconduct at one of the largest and safest banking institutions in the United States. Wells Fargo Bank was ranked among the nation’s safest financial institutions according to an analysis done by Global Finan...
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.
If there ever is an example of a rotten corporate culture, Wells Fargo sits at the head of the class. Since Wells Fargo’s sales pressure scandal, Wells Fargo has continued to suffer from a string of scandals and misconduct. ...more ...
Wells Fargo has faced unprecedented scrutiny since the Consumer Financial Protection Bureau uncovered evidence that bank employees had opened millions of credit card and deposit accounts for customers without their consent. That scandal, along with several other infractions, prompted the Federal Reserve to...