Wells Fargo Bank Fires 5300 Employees After CFBP Investigation Into ‘Ghost Accounts’

~ susie

WELLS FARGO EARNS

To add a little context: Most bank tellers make so little money, they qualify for food stamps.

Wells Fargo Bank has agreed to pay the largest fine in history and has fired 5,300 employees for creating “ghost accounts” for customers without their authorization. According to the CFBP release, bank employees opened credit card accounts and other accounts for customers. In some cases, they transferred money from the customer’s existing account into the new…

Published by susie

3 thoughts on “Wells Fargo Bank Fires 5300 Employees After CFBP Investigation Into ‘Ghost Accounts’”

  1. Yet Wells Fargo goes on after the sting of slapped wrists, they take a tax deduction for the payouts, and the actual victims of this fraud scheme get less than 3% of the pay out. No jail time or lost jobs among the officers or board of directors. The should take those payouts directly from the officers retirement account, and confiscate their stock shares, etc.

  2. I suspect an industry wide practice. My late father was issued a credit card by US Bank while in advanced stage Alzheimers that he could not possibly have requested.

  3. What Guest said.
    Somehow, on the rare occasions when the 1% gets caught, there are no consequences for them.
    (See: Trump University, for example.)

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