Article

2016-09-09 -Lurid Crime Tales-

Wells Fargo Fires 5,300 For Engaging In Massive Fraud, Creating Over 2 Million Fake Accounts

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Posted by 3dc 2016-09-09 00:13|| || Front Page|| [4 views ] Top

#1 I hope they fired the entire audit department. Having worked for big banks, I'm astonished by this.

Posted by phil_b 2016-09-09 02:57|| 2016-09-09 02:57|| Front Page Top

#2 ...I've got a bad feeling that this might just be the tip of the iceberg. If what they got caught for is this bad, the rest has to be far worse.

Mike

Posted by Mike Kozlowski 2016-09-09 04:54|| 2016-09-09 04:54|| Front Page Top

#3 If the number of fraudulent accounts and fired employees is correct it appears to be more of a bad business practice and systemic issue from leadership that lead to this problem. For example: did their training show you how easy it is to open an account wth an email address created just 5 minutes ago? Did the person explaining the incentive program wink a few times when describing how much money you could earn just by opening an account?....

Posted by Airandee 2016-09-09 06:17|| 2016-09-09 06:17|| Front Page Top

#4 First Personal Bank of Mattress is looking better all the time.

Posted by M. Murcek 2016-09-09 07:45|| 2016-09-09 07:45|| Front Page Top

#5 The only question I've got is who is going to jail?

Posted by AlanC 2016-09-09 09:20|| 2016-09-09 09:20|| Front Page Top

#6 On Thursday, Wells Fargo was fined $185 million for engaging in pervasive fraud over the years

Totally worth it.

Posted by gorb 2016-09-09 10:42|| 2016-09-09 10:42|| Front Page Top

#7 AlanC who's on First, No one is going to jail.

Posted by Shipman 2016-09-09 11:45|| 2016-09-09 11:45|| Front Page Top

#8 Who gets the fine slushed to them?

Posted by Whiskey Mike 2016-09-09 12:11|| 2016-09-09 12:11|| Front Page Top

#9 Sorry Ship, forgot the tag.

Posted by AlanC 2016-09-09 13:41|| 2016-09-09 13:41|| Front Page Top

#10 Nobody is going to jail which means the business practice will simply continue.

Isn't this called 'Credit Card Fraud'? If I were to do that I would be looking at some serious time in prison.

Posted by CrazyFool 2016-09-09 15:08|| 2016-09-09 15:08|| Front Page Top

#11 Agree wid #10 - firing "1% of the workforce" is only piddlins'.

Posted by JosephMendiola 2016-09-09 23:01|| 2016-09-09 23:01|| Front Page Top

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