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Could The Return Of Glass- Steagall Prevent Wells Fargo-Style Debacles?

Last month, regulators fined Wells Fargo $185 million for creating approximately two million bank and credit-card accounts without customers’ consent. Soon after,eight former employeesfiled class-action lawsuits claiming workers faced termination if they refused to meet sales goals by creating those fraudulent accounts. The story rocked the financial world and the [...]
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Wells Fargo fined $185 million over phony accounts

Business & Finance : Mashable: Business

California and federal regulators fined Wells Fargo a combined $185 million on Thursday, alleging the bank's employees illegally opened millions of unauthorized accounts for their customers in order to meet aggressive sales goals. T...

Senators Ask If Wells Fargo Will Revoke $125 Million Bonuses For Executive Who Oversaw Fraud

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Last week, regulators fined Wells Fargo $185 million for opening millions of bank account and credit cards without its customers' permission. Now, five U.S. senators are asking the bank if it still plans to pay millions of dollars i...

Wells Fargo fined $185 million for creating 2 million fake bank accounts; Fires over 5,000 Employees

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Employees at Wells Fargo created millions of fake bank accounts and credit card numbers over the past five years, federal regulators announced this week, in an illegal bid to boost their sales figures. The bank was fined $185 millio...

Q&A: Former LA Times reporter on story that led to $185 million Wells Fargo fine

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The Consumer Financial Protection Bureau last week slapped Wells Fargo with $185 million in fines for creating fake accounts and secretly issuing credit cards without customers’ consent. Included in the ruling was a $100 million pen...

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Wells Fargo Fined $185 Million For Fraudulently Opening Accounts For years, Wells Fargo employees secretly issued credit cards without a customer’s consent. They created fake email accounts to sign up customers for online banking se...


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