Wells Fargo: 3.5M Accounts Possibly Fake More Matt Rourke|AP 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 c...
Wells Fargo is trying to fix its battered reputation. The latest scandal won't help. The bank said late Thursday it is "extremely sorry" for charging as many as 570,000 customers for car insurance they didn't need. An internal review by Wells Fargo (WFC) found that about 20,000 of ...
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
Some 20,000 people may have lost their vehicles because higher costs resulted in a default on their loans. Read more about it at Car and Driver.
Beyond opening as many as 3.5 million unauthorized bank and credit card accounts, Wells Fargo has admitted to charging customers for mortgage fees they didn't deserve and forcing them into car insurance they didn't need. Some people even had their cars repossessed as a result. More recently, ...
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.
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...
The scandal for the Wells Fargo fake accounts is still ongoing today. The company plans to close 400 branches of Wells Fargo by the end of 2018. As of now, Wells Fargo has 263,800 employees in the organization. Over 3 million accounts were affected when the fake accounts were made. That...
Other sales abuses later surfaced, including Wells Fargo's charging for unnecessary auto insurance and imposing excessive mortgage fees. The shareholders in Thursday's settlement were led by pension plans in Alabama and Colorado. Their lawyers called the accord the largest insurer-fun...
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.