Actionable news
0
All posts from Actionable news
Actionable news in WFC: WELLS FARGO & CO.,

5,300 Wells Fargo employees fired for creating millions of phony accounts

Janet Yellen: We don't need to break up the banks

Everyone hates paying bank fees. But imagine paying fees on a ghost account you didn't even sign up for.

That's exactly what happened to Wells Fargo customers nationwide.

On Thursday, federal regulators said Wells Fargo employees secretly created millions of unauthorized bank and credit card accounts -- without their customers knowing it -- since 2011.

The phony accounts earned the bank unwarranted fees and allowed Wells Fargo employees to boost their sales figures and make more money.

"Wells Fargo employees secretly opened unauthorized accounts...


More