Wells Fargo: They Should Do This
Beyond Philosophy
FEBRUARY 15, 2018
The Consumer Financial Protection Bureau (CFPB) meted out a $185 million fine that included a $100 million penalty to Wells Fargo in 2016 for their violation and abuse of consumer trust. The San Francisco-based bank, whose employees opened many fraudulent and unauthorized accounts in their customers’ name, now enjoys the dubious honor of shouldering the most substantial penalty the agency has issued since its formation in 2011.
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