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 Officials Enter $240 Million Settlement Over Bogus Accounts More Reuters FILE PHOTO: A Wells Fargo logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren By Jonathan Stempel and Dena Aubin (Reuters...
Wells Fargo Scandal In California, eight Wells Fargo employees were convicted of committing fraud facing a maximum penalty of 30 years in federal prison, also each employee is charged with at least one count of aggravated identity theft, which carries another two years in prison (https://www.ju...
Sloan had been namedLynch, Luann J.Cutro, CameronSocial Science Electronic PublishingLynch, L. J., & Cutro, C. (2017). The Wells Fargo commercial banking scandal. Darden Case No. UVA-C-2394. Retrieved from https://ssrn .com/abstractϭ2974106...
Most Americans have assumed their bank accounts are sacrosanct. But with the major scandal unfolding at Wells Fargo, angry former employees illuminate the alarming pressure that allegedly led local bankers to defraud perhaps more than a million customers
Wells Fargo Scandal The last stakeholder of this scandal are the stockholders who have suffered financial lost in having to pay out millions in the lawsuits filed against Wells Fargo. The stockholders have also lost confidence in the leadership on the organization affecting how and if they will co...
More recently, Wells Fargo discovered some workersimproperly altered documentsabout business customers in 2017 and early 2018. Wells Fargo also agreed last month to pay $480 million to put to rest claims that itmisled shareholdersabout the fake-accounts scandal. ...
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. ...
Wells Fargo & Co. has agreed to pay $3 billion to resolve criminal and civil probes into fraudulent sales practices and has admitted to pressuring employees in a fake-accounts scandal, U.S. officials said on Friday, wrapping up one of the … Wells Fargo Settles Auto Insurance Scam for $...
Two weeks later, on October 1, Wells Fargo said it would nix the sales goals, ahead of its original plan to keep them in place for the rest of 2016. Wells Fargo has struggled to open as many new accounts in the wake of the scandal and without sales goals. The bank said new ...