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 ...
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...
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...
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 ...
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.
To recap, after a scandal broke about the bank setting up fraudulent consumer accounts, the Wells Fargo board of directors decided this… Read More >> Filed Under: General Interest, Opinion, Minding the Gap, AML/Fraud/Financial Crime, Regulation & Compliance, Industry News Tagged With: CFTC,...
Impact Of The Wells Fargo Scandal On Its BusinessThe Market Mogul Team
Unfortunately, as CNN’s Matt Eganhas detailed, the apparent motivations for the Wells Fargo scandal aren’t unique to Wells Fargo. “Banks are under enormous margin pressure,” chief of the Office of Comptroller of the Currency, Thomas Curry, told a Senate panel. ...
September 28, 2016 / 6:51 AM EDT / CBS News Aggressive bank sales tactics Banks accused of aggressive tactics to boost sales 04:13 Wells Fargo’s independent directors are punishing two top executives after the bank’s scandal over sales practices. Chairman and CEO John Stumpf is forfe...
We're covering Wells Fargo Mortgage News news and company updates and its outsized impact on the housing and mortgage industries.