Wells Fargo increases estimate of impacted accounts to 3.5 million By Alexa Lardieri | Aug. 31, 2017, at 11:14 a.m. Save More Wells Fargo: 3.5M Accounts Possibly Fake More Matt Rourke|AP Wells Fargo discovered
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 has a social responsibility to its customers to fulfill their economic, legal, ethical, and philanthropic needs. The scandal has presented numerous legal issues. It was negligent of the bank's executives and managers by placing impossible sales goals on lower level employees then encoura...
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...
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...
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...
Wells Fargo (WFC) chief financial officer said efforts by states to penalize its business over an unauthorized-accounts scandal would not affect third-quarter earnings “much,” the Wall Street Journal reported, citing a recording of an internal call. John Shrewsberry was recorded as saying the ...
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.
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
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. ...