Wells Fargo to pay $3 billion to U.S., admits pressuring workers in fake-accounts scandal

) has agreed to pay $3 billion to resolve criminal and civil probes into fraudulent sales practices and has admitted to pressuring employees in a fake-accounts scandal, U.S. officials said on Friday, wrapping up one of the last major investigations looming over the bank.

“This case illustrates a complete failure of leadership at multiple levels within the bank. Simply put, Wells Fargo traded its hard-earned reputation for short-term profits, and harmed untold numbers of customers along the way,” Nick Hanna, U.S. attorney for the Central District of California, said in a statement.

“We are committing all necessary resources to ensure that nothing like this happens again, while also driving Wells Fargo forward,” Scharf said.Watchdog group Public Citizen criticized the deal, saying it does not go far enough. U.S. Senator Elizabeth Warren, who is seeking the Democratic nomination to challenge Republican President Donald Trump in the Nov. 3 election, wrote on Twitter, “This is a small step in the right direction, but it’s not a substitute for holding senior executives individually accountable - and bringing criminal charges against them if the evidence justifies it.”

not good. anyway you look at this it's not good.

This is messed up. Where is the justice? They can afford to pay $3b, so they & other banks will do it again. The executives need 2 be strung up & their heads need to roll. Well I suppose, this is American Capitalism & 'American Exceptionalism' in action, so it is as it should be!

If corporations are people. Why isn't Wells Fargo in jail?

Where is the jail time?!😠

They should pay off mortgages instead

$3Billion R they Fking Kidding. This is an Injustice. Is the money going to the Customers they defrauded? Wells Fargo Management I mean Senior Management Must Go To Jail. At the very least Pay back all Bonuses earned during this massive BankFraud How was this not a RICOCase

A drop in the bucket.

And how much would the account holders, you know the people who got defrauded, get? Most likely 0. All will go to the state and city.

About time Yup y’all got me for 7 thousand so where my money at🤔

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