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Wells Fargo admitted to opening millions of accounts without customer authorization and misusing personal information to meet sales goals. The settlement includes a deferred prosecution agreement, a FIRREA penalty and an SEC cease-and-desist order.
Feb. 21, 2020. Wells Fargo has agreed to pay $3 billion to settle criminal charges and a civil action stemming from its widespread mistreatment of customers in its community bank over a 14-year...
Former Wells Fargo executive Carrie Tolstedt was sentenced to three years’ probation on Friday for her role in the bank’s sprawling fake-accounts scandal.
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.
WASHINGTON (Reuters) - Wells Fargo & Co has agreed to pay $3 billion to resolve criminal and civil probes into fraudulent sales practices and has admitted to pressuring employees in a...
Carrie L. Tolstedt, Wells Fargo’s former head of retail banking, agreed to plead guilty to a criminal charge of obstructing a bank examination, the Justice Department said on Wednesday.
Wells Fargo agrees to $3.7 billion federal settlement for an array of alleged consumer abuses. The settlement includes $2 billion in restitution and a $1.7 billion civil penalty. Wells...