Wells Fargo: Bogus account scandal far from over
  • 7 years ago
Wells Fargo is still reeling from their bogus-account scandal last year. More than 2 million retail accounts were opened for non-consenting customers, resulting in a $185 million fine for the company. They also discovered overseas banks used their software for trading with foreign countries that have U.S. sanctions. They have expanded a review to evaluate the ethics of their employee’s pitching practices. Wells Fargo has already been spent $3.6 million paying back affected customers. Executives will also have their bonuses withheld until the scandal’s investigation ends.