Wells Fargo fires 5,300 Employees For Creating Phony Accounts ( And Fined $185M)
Looks like one of the BIG banks is at it again. And by “it” I mean horrendous behavior. Yesterday, news broke that Wells Fargo Bank was hit with $185 million in civil penalties for secretly opening millions of unauthorized deposit and credit card accounts that harmed its customers. So, who gets the money? The government? We’ll be updating this shortly. Read on… Employees of Wells Fargo boosted their sales figures by secretly and ILLEGALLY opening fake accounts and funding them by transferring money from customers’ authorized accounts without permission. From the article: “An analysis by the San Francisco-headquartered bank...
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