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...
This fake account scandal saddled Wells Fargo with billions of dollars in fines and settlements. In this case study, students assume the role of an external auditor and become familiar with several auditing, ethics, and accounting information systems concepts, including: (1) fraud, (2) ethical ...
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.
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...
The owner also takes blame for the people who created the fake accounts and also takes the responsibility for the actions of those people. Timothy J. Sloan took Stumpf’s place as the CEO. The scandal for the Wells Fargo fake accounts is still ongoing today. The company plans to close ...
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 ...
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. ...
Wells Fargo(NYSE: WFC) has been a major underperformer over the past couple of years in an otherwise very strong banking industry. With its infamous fake-account scandal and other lingering issues, many investors are wondering when, if ever, Wells Fargo will return to being one of the most...
Buffett: Wells Fargo is 'a great bank that made a terrible mistake' 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 ...
(CEO) John Stumpf testifies before the U.S. Senate Banking Committee on Capitol Hill in Washington D.C., the United States, Sept 20, 2016. U.S. lawmakers grilled Wells Fargo's chairman and chief executive officer (CEO) John Stumpf on Tuesday over the bank's fake account scandal as he...