BREAKING: Wells Fargo to pay $3B to settle civil lawsuit over fake account scandal.
Since the fraud became public in 2016, the bank has faced a torrent of lawsuits.
Department officials said the bank took several steps to conceal the accounts from customers, such as forging customer signatures and preventing other Wells Fargo employees from contacting customers during routine surveys about their accounts."We take seriously the rights of customers, creditors, and investors, all of whom were harmed by this conduct, where the bank was making up sales activities to get a competitive advantage over its customers," a senior Justice Department official said.
As part of Friday's settlement, the Justice Department agreed not to criminally prosecute the bank during the three-year term of the agreement, provided that Wells Fargo continues to cooperate with government investigations.
Read more: NBC News
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They will need to cut their coffee budget for a month who goes to jail? well fargo has documented racist hiring policies in south carolina I wonder who made that happen?
US government fines Wells Fargo $3 billion for its 'staggering' fake-accounts scandalWells Fargo was hit with a $3 billion fine Friday by federal authorities outraged by the millions of fake accounts created at the troubled bank over many years. Damn That’s a massive fine. Will Wells Fargo pay up? Where does this money go if ever paid?
Wells Fargo agrees to $3 billion settlement over fake accountsJUST IN: Wells Fargo agrees to $3 billion settlement over fake accounts. The bank has agreed to admit wrongdoing as part of the deal. MORE: 'Simply put, Wells Fargo traded its hard-earned reputation for short-term profits, and harmed untold numbers of customers along the way,” DOJ says. “We are hopeful that this $3 billion penalty...will ensure that such conduct will not reoccur.” Meanwhile they refuse to refund me the full amount of an unjustified $35 overdraft fee. Fuck WellsFargo Ban them!
Wells Fargo to pay $3 billion to settle civil lawsuit over fake account scandalSince the fraud became public in 2016, the bank has faced a torrent of lawsuits.
The Price of Wells Fargo’s Fake Account Scandal: $3 BillionWells Fargo agreed to pay $3 billion to settle charges after millions of fake accounts were opened in customers' names, the Justice Department said do i get some of the law suite oh god thats terrible you cant get a long or a credit card from the bank but you can take money from poor people wells fargo should be careful who they hire it just cost them 3 billion dollars but who get the money the bank custermers
Wells Fargo Reaches Settlement With Government Over Fake-Account ScandalWells Fargo will pay $3 billion to settle investigations by the Justice Department and the Securities and Exchange Commission over its long-running fake-account problems. Enough of the simple settlements these people should be behind bars. This is why the rich get away with crimes no 'normal' person would even consider doing. Let alone have the abilty to commit.
Wells Fargo reportedly near settlements with SEC and DOJ over sales scandalWells Fargo is reportedly nearing settlements with the Securities and Exchange Commission and the Justice Department over its sales scandal.