Wells Fargo Fires 5,300 For Engaging In Massive Fraud, Creating Over 2 Million Fake Accounts

Via zerohedge.com

  • “On Thursday, Wells Fargo was fined $185 million, for engaging in pervasive fraud over the years which included opening credit cards secretly without a customer’s consent, creating fake email accounts to sign up customers for online banking services, and forcing customers to accumulate late fees on accounts they never even knew they had. Regulators said such illegal sales practices had been going on since at least 2011″
  • “In all, Wells opened 1.5 million bank accounts and “applied” for 565,000 credit cards that were not authorized by their customers

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