I just love unbridled capitalism!
If you opened one fraudulent account at Wells Fargo how fast you would your butt be in jail?
Nearly a year after news broke that Wells Fargo employees—under the pressure of meeting the bank’s cross-selling sales quotas—created 2.1 million fake accounts under the names of current customers, the bank has uncovered 1.4 million more fake accounts.
In addition, Wells Fargo said that about 190,000 of these accounts had been hit with unnecessary fees; that number is up from the previous 130,000.
The review also found that there were 528,000 unauthorized online bill-pay accounts opened.
CNN reports that in July, the bank admitted to forcing up to 570,000 borrowers into unnecessary auto insurance, 20,000 of whom had their cars repossessed because of it.
Guess how many Wells Fargo managers or directors are going to jail? If you guessed zero you are correct.In addition, Wells Fargo said that about 190,000 of these accounts had been hit with unnecessary fees; that number is up from the previous 130,000.
The review also found that there were 528,000 unauthorized online bill-pay accounts opened.
CNN reports that in July, the bank admitted to forcing up to 570,000 borrowers into unnecessary auto insurance, 20,000 of whom had their cars repossessed because of it.
If you opened one fraudulent account at Wells Fargo how fast you would your butt be in jail?
