Taking a comprehensive view of the 2016 Wells Fargo "fake accounts" scandal, the authors detail the bank's legal, ethical, management, and social responsibility transgressions. Civil and criminal charges are explored鈥攕ome of which have been settled. Ethical and immoral aspects are examined in ...
WASHINGTON, Feb. 21 (Xinhua) -- Wells Fargo, one of the leading U.S. banks, has agreed to pay 3 billion U.S. dollars to settle criminal and civil investigations with the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) over its fake accounts scandal,...
Wells Fargo's fake-accounts scandal, on top of a long list of other problems, has hurt its stock price, caused legal expenses to soar and tarnished its reputation. The bank has been hit with a series of penalties, including unprecedented sanctions from the Federal Reserve that prevent it fro...
Carrie L. Tolstedt, the only executive at the bank to be accused of criminal wrongdoing stemming from its fake-accounts scandal of 2016, agreed this year to plead guilty to obstructing the investigation. Now the judge handling the case must decide how severely she should be punished. The US...
Three former executives in Wells Fargo’s community bank group have agreed to penalties with the Office of the Comptroller of the Currency (OCC) for their roles in the bank’s 2016 fake accounts scandal, the regulator announced Monday. Matthew Raphaelson, the group’s former finance officer, ...
TheWells Fargoscandal had started in January of 2009 to September of 2016 and more fake accounts are still being made by Wells Fargo. There was so many employees involved in this scandal, therefore making it really bad for the company Wells Fargo. One of the reasons why the employees were ...
(CNN Money) -- Wells Fargo isn't the only bank where heavy sales pressure led employees to open fake accounts. A federal review triggered by theWells Fargo scandalfound that "weaknesses" at other banks led employees to open accounts without proof of customer consent — just like Wells Fargo...
Taking a comprehensive view of the 2016 Wells Fargo "fake accounts" scandal, the authors detail the bank's legal, ethical, management, and social responsibility transgressions. Civil and criminal charges are explored—some of which have been settled. Ethical and immoral aspects are examined in lig...
By Kathy Kristof Updated on: September 8, 2016 / 5:55 PM EDT / MoneyWatch Wells Fargo (WFC) has long touted its commitment to customers, with CEO John Stumpf noting a few years ago that it wants people to “see us as trusted financial advisers.” But that reputation could be in ...
After the fake-account scandal broke, Wells Fargo said it had fired 5,300 workers. The bank has repeatedly apologized, installed new corporate leadership, revamped sales goals and clawed back pay from senior execs. State and federal authorities continue to investigate, including the Justice Departm...