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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 6, 2019 · Rather than put its customers first, Wells Fargo built and sustained a cross-selling program where the bank and many of its employees served themselves instead, violating the basic ethics of a banking institution including the key norm of trust.
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 ...
Oct 19, 2022 · Wells Fargo's reputation is in tatters following reports of mass-scale fraud. Regulators have fined the bank repeatedly and capped its growth.
Feb 29, 2024 · Feb 29 (Reuters) - Wells Fargo (WFC.N), which has spent years trying to extricate itself from its fake accounts scandal, was sued on Thursday for allegedly not doing enough to help customers who...
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 ...
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...
