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A chronological overview of the biggest scandals that have plagued Wells Fargo since 2016, involving fake accounts, overcharging, discrimination, and more. See how the bank has been fined, sued, and restricted by regulators and customers.
- Heaped a $4 Million Fine
The SEC on Monday said the payout includes a $4 million...
- 1 Billion Settlement
Wells Fargo shares rise after the bank agrees to pay $1...
- CEO Sloan Pitches Wells Fargo Turnaround to Bank Critics in Congress
By Imani Moise and Pete Schroeder. WASHINGTON, March 12...
- Heaped a $4 Million Fine
May 16, 2023 · Wells Fargo has paid billions of dollars in fines and damages for various scandals, including the fake accounts scandal that broke in 2016. See the timeline of controversies and the latest settlement in 2023.
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 ...
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.
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.
Aug 8, 2018 · 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 brokerage...
