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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 ...
NEW YORK Dec 28 (Reuters) - Wells Fargo & Co will pay $575 million to settle claims made by U.S. states that the bank created phony accounts and committed other customer abuses, according to a ...
The settlement class consists of people or entities that purchased common stock in Wells Fargo between Feb. 2, 2018, and March 12, 2020, according to the lawsuit.
Wells Fargo's (WFC) efforts to reduce expenses and undertake other remedial measures might help it put behind the past wrongdoings. Wells Fargo Executives Enter Settlement Over Fake Accounts Skip ...
Wells Fargo & Co will pay $65 million to settle claims that it misled investors about its "cross-selling" business strategy, according to officials.
In August 2012, the SEC charged Wells Fargo for improperly selling asset-backed commercial paper (ABCP) structured with high-risk mortgage-backed securities and collateralized debt obligations (CDOs) to municipalities, non-profit institutions, and other customers, almost exclusively upon the basis of their credit ratings. [103]
The settlement was filed late Thursday with the federal court in San Francisco, and requires a judge's approval. Insurers for 20 current and former Wells Fargo executives and directors, including ...
If you think you are owed and have not received notification yet, the group advises customers to call Wells Fargo at 844-484-5089, Monday through Friday, from 9:00 a.m. to 6:00 p.m. ET, or file a ...