Wells Fargo: There were nearly 70 percent more potentially fake accounts opened than originally thought

Categorized | STOP FORECLOSURE FRAUD

Wells Fargo: There were nearly 70 percent more potentially fake accounts opened than originally thought

Wells Fargo: There were nearly 70 percent more potentially fake accounts opened than originally thought

CNBC-

Wells Fargo & Co. said it uncovered nearly 70 percent more potentially unauthorized consumer and small-business accounts than originally thought after an independent investigation into a sales scandal that erupted last year.

The disclosure on Thursday marks the conclusion of that investigation, the bank said. Earlier this month, Wells Fargo CEO Timothy Sloan warned his employees to brace for more negative headlines, saying the review by an outside firm could reveal a “significant increase” in the number of accounts involved.

On Thursday, the bank said the review of 165 million retail accounts opened from January 2009 to September 2016 identified 3.5 million as potentially unauthorized. That is up from the 2.1 million accounts originally identified in a narrower review that only covered 93.5 million accounts opened from May 2011 to mid-2015.

[CNBC]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Comments

comments

This post was written by:

- who has written 8690 posts on FORECLOSURE FRAUD | by DinSFLA.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

Contact the author

Leave a Reply

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Advertise your business on StopForeclosureFraud.com

Archives