U.S. Regulators Levie $185 million Fine on Wells Fargo over Fake Credit Cards

Moderator: moderators

kreslik.news
rank: 5000+ posts
rank: 5000+ posts
Posts: 5065
Joined: Thu Jan 14, 2016 9:36 am
Reputation: 0
Gender: None specified

U.S. Regulators Levie $185 million Fine on Wells Fargo over Fake Credit Cards

Postby kreslik.news » Wed Sep 07, 2016 11:07 pm


California and federal regulators today fined Wells Fargo Bank (WFC), one of the U.S. largest banks, $185 million in civil penalties to resolve claims that bank employees secretly opened millions of unauthorized accounts for their customers in order to meet aggressive sales goals.

Thousands of employees at Wells Fargo opened roughly two million bank accounts and applied for 565,000 credit cards without customers’ knowledge or consent. In some cases, bank employees created fake email addresses to sign up customers for online banking services, accumulating late fees on accounts they never even knew they had.

The Consumer Financial Protection Bureau (CSFB) blamed Wells ... (read more)

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

Return to “news”