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The company in a later email to CNN contested CFPB’s claim that customers of Chase, Bank of America and Wells Fargo who complained of fraudulent transfers had lost more than $870 million.
The Wells Fargo cross-selling scandal was caused by creation of millions of fraudulent savings and checking accounts on behalf of Wells Fargo clients without their consent or knowledge due to aggressive internal sales goals at Wells Fargo. News of the fraud became widely known in late 2016 after various regulatory bodies, including the Consumer ...
A federal regulator sued JPMorgan Chase, Wells Fargo and Bank of America on Friday, claiming the banks failed to protect hundreds of thousands of consumers from rampant fraud on the popular ...
The case targets Early Warning Services, which runs the platform, along with Bank of America, Wells Fargo, and JPMorgan Chase, three of the seven banking giants that sit on its board.
Wells Fargo & Co will pay $65 million to settle claims that it misled investors about its "cross-selling" business strategy, according to officials.
Wells Fargo hiked Scharf's total compensation in 2023 to $29 million compared with $24.5 million in 2022. (Reporting by Niket Nishant, Jaiveer Singh Shekhawat and Noor Zainab Hussain in Bengaluru ...
Wells Fargo has agreed to work with U.S. bank regulators to shore up its financial crimes risk management, including internal controls related to suspicious activity and money laundering. The ...
U.S. banking giant Wells Fargo confessed to creating millions of fake accounts from 2002 to 2016. Now, new troubles have come to light. Fraudulent bank accounts resurface at Wells Fargo