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Trusted bank that bullied staff into opening two million fake accounts Wells Fargo
Trusted bank that bullied staff into opening two million fake accounts Wells Fargo
This is a duplicate of the Blog Entry made on: 29th September 2016 09:51
This is a duplicate of the Blog Entry made on: 29th September 2016 09:51
...............and why it's triggered panic in British boardrooms
When Lehman Brothers and Northern Rock collapsed, RBS and Lloyds plunged to the brink, and the entire financial system ground to a halt – there was one bank that seemed to sail through the crisis. Wells Fargo, one of the oldest banks in America, came through the recession with a reputation for sensible lending and borrowing. It rose to become the most valuable bank in the US. That seemed only fitting for an institution which was founded in 1852 and whose stagecoach pony express across the Wild West became a thing of legend – guarded by the likes of lawman Wyatt Earp. But now its good name for prudence and security has been destroyed in days. Wells Fargo has been engulfed in a scandal that saw it hit with a £142million fine, ordered to pay £3.8million in redress and sack 5,300 staff. Employees have been caught opening 2million current accounts and credit cards in customers' names without their knowledge......Source: Read more HERE
Previous news 2011 on AAD Blog US banks sued over homes seizures - LINK
When Lehman Brothers and Northern Rock collapsed, RBS and Lloyds plunged to the brink, and the entire financial system ground to a halt – there was one bank that seemed to sail through the crisis. Wells Fargo, one of the oldest banks in America, came through the recession with a reputation for sensible lending and borrowing. It rose to become the most valuable bank in the US. That seemed only fitting for an institution which was founded in 1852 and whose stagecoach pony express across the Wild West became a thing of legend – guarded by the likes of lawman Wyatt Earp. But now its good name for prudence and security has been destroyed in days. Wells Fargo has been engulfed in a scandal that saw it hit with a £142million fine, ordered to pay £3.8million in redress and sack 5,300 staff. Employees have been caught opening 2million current accounts and credit cards in customers' names without their knowledge......Source: Read more HERE
Previous news 2011 on AAD Blog US banks sued over homes seizures - LINK