Sunday, January 23, 2022

Wells Fargo Bank Fined Millions for Opening New Accounts You Didn’t Authorize

wells fargo

*If you are one of the customers who bank with Wells Fargo, and found yourself confused at some point when you got an overdraft notice for money you just KNEW was in your checking account, when you last checked? You’ll want to hear this.

The bank was recently  slapped with $185 million in fines after it was discovered that bank employees had been opening new accounts for customers, that the customers had not authorized or expressed any interest in having.

Not only that, the employees were found to be transferring money, signing customers up for credit cards; activating debit cards — oh god, the list goes on.

All of this without the customers expressed authorization.

Why?

Because bottom line, they wanted to look good to the boss and get the commission that comes along with opening up new accounts, so they inflated the sales figures by taking the aforementioned actions.

‘Memba gramma used to say, ‘Cain’t [sic] trust NOBODY!’ That would apply here.

Read more at EURThisNthat.

 

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