Wells Fargo fake accounts

Question

Wells Fargo bank employees created 2 millions fake accounts without customers permission/knowledge.

According to Wells Fargo CEO John Stumpf, 8 rhymes with great when referring to the number of accounts per customer .

The average is 3 bank accounts per financial institution

Wells Fargo exec (Carrie Tolstedt) who headed the fake accounts unit is retiring with a massive payday : 124.6 millions dollars

On Thursday, Wells Fargo WFC 0.66% agreed to pay $185 million, including the largest penalty ever imposed by the Consumer Financial Protection Bureau, to settle claims that that it defrauded its customers. The bank’s shareholders will ultimately have to swallow the cost of that settlement. The bank also said it had fired 5,300 employees over five years related to the bad behavior.

https://money.cnn.com/2016/09/20/investing/wells-fargo-elizabeth-warren-resign-criminal-investigation/

ilsp2003 · Answer

Wells Fargo bank employees created 2 millions fake accounts without customers permission/knowledge.

According to Wells Fargo CEO John Stumpf, 8 rhymes with great when referring to the number of accounts per customer .

The average is 3 bank accounts per financial institution

Wells Fargo exec (Carrie Tolstedt) who headed the fake accounts unit is retiring with a massive payday : 124.6 millions dollars

On Thursday, Wells Fargo WFC 0.66% agreed to pay $185 million, including the largest penalty ever imposed by the Consumer Financial Protection Bureau, to settle claims that that it defrauded its customers. The bank’s shareholders will ultimately have to swallow the cost of that settlement. The bank also said it had fired 5,300 employees over five years related to the bad behavior.

https://money.cnn.com/2016/09/20/investing/wells-fargo-elizabeth-warren-resign-criminal-investigation/

ilsp2003 · Answer

Back in 2011 Wells Fargo pleaded guilty to laundering 378.4 billion dollars in drug money for Mexican Drug cartelsWells Fargo was  fined 50 million. what a joke !

SarasotaSlim · Answer

Wells Fargo Foundation had given between $100,000 and $250,000 to the Clinton Foundation.

Wells Fargo, both the bank and its foundation, have given generously to the Clinton Foundation over the years. Former President Bill Clinton gave a speech to Wells Fargo for $200,000.

Hillary Clinton slammed Wells Fargo for bulling workers ..."We can't let corporations like Wells Fargo use these fine print 'gotchas' to escape accountability," Hillary Clinton said.

Dose this mean the Clintons intend to return the money to Wells Fargo?

ClubDirt · Answer

wells fargo paid a small fine (relatively for them) and fired a bunch of low level employees while the executives got rich. nobody believes they could commit this kind of fraud without some of the higher up people either directing it or knowing about it.

we can argue all day about whether this candidate is better or worse than the other but as long as banks and other big money entities get away with this garbage, the system will always be fucked up and heavily rigged against regular people.

wallstreetcappers · Answer

No no no...you have it all wrong. The issue is only if Clinton did something wrong and how great Trump is.Whatever the topic, the only importance is that Clinton and the democrats are ruining this country and Trump is going to make America great again..Duh....

ilsp2003 · Answer

[Quote: Originally Posted by SarasotaSlim]   Wells Fargo Foundation had given between $100,000 and $250,000 to the Clinton Foundation.Wells Fargo, both the bank and its foundation, have given&#xD;&#xA; generously to the Clinton Foundation over the years. Former President Bill Clinton gave a &#xD;&#xA;speech to Wells Fargo for $200,000.Hillary Clinton slammed Wells Fargo for bulling workers ..."We can&#x27;t let corporations like Wells Fargo use these fine print &#x27;gotchas&#x27; to escape accountability," Hillary Clinton said. Dose this mean the Clintons intend to return the money to Wells Fargo?      [/Quote]Can you add value to a thread without your partisan BS spin ?Wells Fargo has donated money to Ted Cruz,Hillary Clinton, Bernie Sanders, Jeb Bush, Marco Rubio, Donald Trump,RNC, DNC,More Republicans own Wells Fargo Shares than Democrats 16 out of 19 Wells Fargo lobbyists in 2015-2016 have previously held government jobsTop Recipients Republican National Cmte&#x9;$287,665&#x9; Clinton, Hillary&#x9;        $258,351&#x9; Sanders, Bernie&#x9;        $61,043&#x9; Cruz, Ted&#x9;                $57,685&#x9; DNC Services Corp&#x9;        $55,861&#x9; National Republican Congressional Cmte&#x9;$49,600&#x9; National Republican Senatorial Cmte&#x9;$45,674 Democratic Senatorial Campaign Cmte&#x9;$45,192&#x9; Schumer, Charles E&#x9;$42,900&#x9;$https://www.opensecrets.org/orgs/summary.php?id=D000019743

SarasotaSlim · Answer

16 out of 19 Wells Fargo lobbyists in 2015-2016 have previously held government jobs....

One of them is John Podesta who is the Chairman of the 2016 Hillary Clinton presidential campaign..John Podesta is the co-founder of the Podesta Group..the firm "has close ties "to the Democrat Party and the Obama administration^..

Wells Fargo fake accounts

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