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Wells Fargo's sales culture and cross-selling strategy, and their impact on customers, were documented by the Wall Street Journal as early as 2011. [5] In 2013, a Los Angeles Times investigation revealed intense pressure on bank managers and individual bankers to produce sales against extremely aggressive and even mathematically impossible [7] quotas. [8]
It's the go-to federal agency for reporting financial fraud, ... of the largest credit reporting bureaus and debt-collection companies. ... and Wells Fargo. Early Warning Services is a financial ...
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 CFPB has vigorously pursued a mission to return billions of dollars to consumers from junk fees and fraud. Since the bureau’s founding in 2011, it has provided over $21 billion in consumer ...
In September 2016, Wells Fargo was fined $100 million by the Consumer Financial Protection Bureau, $50 million by the Office of the Comptroller of the Currency and $35 million by the city and county of Los Angeles, for opening two million checking and credit-card bank accounts without its customers' consent.
Map of Wells Fargo branches in August 2015 Wells Fargo branch in Berkeley, California A former Wachovia branch converted to Wells Fargo in the fall of 2011 in Durham, North Carolina American Express Co. early receipts (1853, 1869) Stagecoach with Christmas gifts at a Wells Fargo Bank, San Francisco Wells Fargo & Co. Express building circa 1860, Stockton, California Mud wagon — Wells Fargo U ...
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 ...
Carrie L. Tolstedt is an ousted American banking executive and former head of the community banking division at Wells Fargo, [1] from which she retired in 2016 before the company's account fraud scandal came to light. In 2017, Wells Fargo retroactively fired Tolstedt for cause. In 2023, she would plead guilty to obstructing a bank examination.