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The Wells Fargo cross-selling scandal was caused by creation of millions of fraudulent savings and checking accounts on behalf of Wells Fargo clients without their consent or knowledge due to aggressive internal sales goals at Wells Fargo.
Feb 21, 2020 · Wells Fargo has agreed to pay $3 billion to settle criminal charges and a civil action stemming from its widespread mistreatment of customers in its community bank over a 14-year period, the...
Feb 21, 2020 · Wells Fargo & Company and its subsidiary, Wells Fargo Bank, N.A., have agreed to pay $3 billion to resolve their potential criminal and civil liability stemming from a practice between 2002 and 2016 of pressuring employees to meet unrealistic sales goals that led thousands of employees to provide millions of accounts or products to customers ...
Mar 12, 2019 · The SEC heaped a $4 million fine on Wells Fargo and forced it to repay over $1 million in ill-gotten gains and interest to mom-and-pop investors at Wells Fargo Advisors, the bank’s...
Dec 20, 2022 · Federal regulators fined Wells Fargo a record $1.7 billion on Tuesday for “widespread mismanagement” over multiple years that harmed over 16 million consumer accounts.
Feb 24, 2020 · Wells Fargo, the fourth largest bank in the United States, agreed on Friday to pay $3 billion to settle its long-running civil and criminal probes into the heinous accusations of rampant...
Sep 15, 2023 · Former Wells Fargo executive Carrie Tolstedt was sentenced to three years’ probation on Friday for her role in the bank’s sprawling fake-accounts scandal.
Mar 15, 2023 · Former Wells Fargo Executive to Plead Guilty in Sham Accounts Scandal Carrie L. Tolstedt, who ran the bank’s retail branches, faces up to 16 months in prison for obstructing a bank...
Feb 21, 2020 · Wells Fargo, a major US bank, has agreed to pay $3bn (£2.3bn) to resolve a government investigation into its sales practices, including opening millions of fake customer accounts. The bank...
Sep 8, 2023 · Wells Fargo & Co.’s $1 billion settlement of a shareholder lawsuit over unauthorized customer accounts was approved by a federal judge, bringing the total amount the bank has agreed to pay to...
