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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 ...
Last December, Wells Fargo agreed to $3.7 billion in fines and restitution in a settlement with regulators to resolve issues related to auto lending, mortgages and consumer deposit accounts.
Three former Wells Fargo executives must pay $18.5 million for their role in the bank’s widespread fake sales accounts scandal that came to light nearly a decade ago. Based in San Francisco ...
The Biden Administration eased some of the restrictions on banking giant Wells Fargo, saying the bank has sufficiently fixed its toxic culture after years of scandals. The Office of the ...
A complete list of Wells Fargo's bad headlines and woes since the fake account scandal broke in September 2016.
The emblematic case is the account-opening scam first uncovered by my former Times colleague E. Scott Reckard in 2013, in which Wells Fargo bankers opened as many as 2 million fake accounts in the ...
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Here's an overview of Wells Fargo's most notable scandals and missteps as CEO Tim Sloan testifies before the House Financial Services Committee.