Post Profile






Wells Fargo's punishment for fake account scandal: no more growth until Fed is "satisfied"

The Federal Reserve has concluded its investigation into Wells Fargo's decades' long practice of pressuring employees to open fraudulent accounts in the names of its customers to inflate its quarterly figures and rack up service charges. (more…)
read more

share
See more about: Wells Fargo

Related Posts


Wells Fargo won't claw back $125m retirement bonus from exec who oversaw 2m frauds

Humor / odd : Boing Boing

Carrie Tolstedt is the Wells Fargo executive who presided over a titanic, multi-year fraud through which at least 5,300 of the employees who reported to her opened up fake accounts in Wells' customers' names, racking up fees and fin...

Whistleblower docs: Wells Fargo was opening fake accounts in 2005

Humor / odd : Boing Boing

https://www.youtube.com/watch?time_continue=1&v=Bbq9-SJ74_Y Dennis Hambek was a Wells Fargo branch manager. In 2005, he found Wells Fargo employees creating fake accounts in their customers' names (in order to meeting the company's ...

This Week In Credit Card News: Shameful Account Fraud at Wells Fargo; Consumers Dislike Chip Cards

Business & Finance : Forbes: Business

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...

Why Didn't Wells Fargo's Legal Department Prevent the Account Fraud Scandal?

Industries / Law : FindLaw's Writ - Legal Commentary

Wells Fargo's board of directors released its report into the bank's fraudulent account scandal yesterday, a scandal that saw millions of fake accounts opened customers' names, as employees bent rules to meet demanding sales goals. ...

Wells Fargo fires 5,300 employees for opening 2M fake accounts in customers' names

Humor / odd : Boing Boing

5,300 Wells Fargo employees created 2 million phony bank accounts and racked up huge fees, raking in commissions from their employer for being such great salespeople for the bank's services; meanwhile, the fees associated with the 2...

Comments


Copyright © 2016 Regator, LLC