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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 ...
‘I feel so stupid’: This young Connecticut woman had her bank account drained by scammers after answering trusted Wells Fargo number — how to spot and avoid similar schemes Christy Bieber ...
Shares of Wells Fargo are up more than 8% since regulators lifted the 8-year restrictions on the bank in February and rose to $52.47 Friday. Show comments Advertisement
EWS is owned by seven U.S. banks, including JPMorgan, Wells Fargo and Bank of America. Those three banks are the largest financial institutions on the Zelle network, accounting for 73% of activity ...
In many instances, bank fraud is a criminal offence. While the specific elements of particular banking fraud laws vary depending on jurisdictions, the term bank fraud applies to actions that employ a scheme or artifice, as opposed to bank robbery or theft. For this reason, bank fraud is sometimes considered a white-collar crime. [2]
Wells Fargo and CitiMortgage aren't the only big banks to apparently misrepresent their practices in the media. JPMorgan Chase told The New York Times that it had not withdrawn any documents in a ...
The foreclosure crisis was extensively covered by news outlets beginning in October 2010, and several large banks—including Bank of America, JP Morgan, Wells Fargo, and Citigroup—responded by halting their foreclosure proceedings temporarily in some or all states.
NEW YORK (Reuters) -A federal judge on Thursday rejected Wells Fargo & Co's bid to dismiss a lawsuit claiming it defrauded shareholders about its ability to rebound from five years of scandals ...