Source: NICHOLAS KAMM / Getty
According to The Houston Chronicle,
Wells Fargo was fined $185 million yesterday (September 8th) for its employees secretly setting up fake accounts without customers’ consent for years. These included credit cards that were issued, accounts that were opened, and online banking services that were signed up for, and customers only found out about it when they started being charged fees, getting credit cards in the mail or hearing from debt collectors. The bank has fired at least 5,300 employees who were involved in opening some 1.5 million bank accounts and applying for 565,000 credit cards, all to get bonuses for opening new accounts. Wells has agreed to refund about $2.6 million in fees that may have been inappropriately charged.
Oooo…that’s not a good look.
