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1.4mn more bogus Wells Fargo accounts emerge with Congress asleep at the wheel
Link: https://www.rt.com/usa/401667-wells-fargo-unwanted-accounts/
Tally of fake Wells Fargo accounts balloons to 3.5 million, the financial giant has only paid fines. Wells Fargo employees transferred money from a customer’s bank account and placed it into another account the employee created and that the customer did not know about. The bank paid out $185 million after three government lawsuits relating to the illegal banking activity. Wells Fargo employees admitted thousands of workers created the false accounts in an attempt to meet the bank’s sales targets and receive a bonus. Last year, the bank reported 2.1 million unwanted accounts that it created without customers’ consent. Revealed charging 500,000 people for auto insurance they didn’t need or asked for. Wells Fargo has stated it has stopped this particular sales target initiative.
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